Nissan losses better than expected

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Japanese carmaker Nissan has reported a net loss for the past year, but the results were better than expected.

Nissan reported a net loss of 233.7bn yen ($2.3bn; £1.59bn) for the year to 31 March, but it had previously forecast the loss would be 256bn yen.

Sales of Nissan vehicles fell 9.5% to 3.4 million, with the biggest decline seen in the US market.

Carmakers around the world have been affected by the economic downturn and Nissan said it remained cautious. Full story…