Nissan Expected to Post Operating Loss

[rkisler]

"Japanese carmaker Nissan Motor Co. is likely to post an operating loss in the current fiscal year, reports said Thursday.

 

Like many of Japan's exporters, Nissan has been hit by the double blow of falling sales and a strong yen that cuts profits on sales abroad, said the Yomiuri, the nation's top-selling newspaper. Kyodo News agency also reported the company would be in the red."

 

Nissan Profits

[jobu37]

This should come as a surprise to no one that pays attention to the happenings in the auto industry. Nissan has been discounting very agressively to hold on to marketshare that their craptastic lineup doesn't deserve. Other than the Altima they really aren't competitive in any class. And with the arrival of the new Fusion they will fall another notch in the mid-size category. The fire-sale of all things truck-like in October probably contributed a good bit to these bad results. If you recall, while every other manufacturers' trucks and SUVs were down double digit % Nissan pulled 10-15% gains on everything except Titan. It appears no amount of money could bring that deadweight up. They were gaining marketshare in Europe through November at the expense of Honda and Toyota but even that came to an end in December. I expect agressive discounting over there as well.

 

Maybe the GT-R and 370Z will improve their fortunes, not. While styling is subjective, I think he new Maxima has to be one of worse front clip designs to ever come out of a design studio. Sans the Tribeca, of course.

 

I think Carlos Goshn started believing too much of what he read in the comic books that make him out to be some sort of a god.

Edited January 15, 2009 by jobu37

[mettech]

Did Honda post a profit?

[Pioneer]

Nissan cuts Japan production amid reports of loss