[zeus18]

https://global.nissannews.com/en/releases/241107-01-e

"Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market.

To achieve healthy growth in the future, the company will implement a structure to secure sustainable profitability and cash generation, even with a projected annual sales of 3.5 million units by fiscal year 2026. "


Not sure if these decisions will impact Nissan in India.

[volkman10]

Nissan Laying off 9,000 jobs worldwide and reducing production capacity – selling Mitsubishi shares – reducing salary.

The situation of the automobile market is shrinking, including the presence of more players in the market. As a result, many leading automakers saw sales and profits decline, including Nissan, whose cumulative global sales fell by 3.8% to 1.59 million units. In the first half of FY2024, Nissan's sales in its main markets, both China and the U.S., which account for more than half of its global share, have both declined. As a result, Nissan's profit in the second quarter of this year fell by 85% to 31.9 billion yen (about 7 billion baht).

Nissan announced on November 7, 2024 from CEO Makoto Uchida that the company plans to lay off a total of 9,000 jobs worldwide, accounting for 6.7% of its existing global workforce of about 133,580 people.

Uchida has also shown its responsibility by voluntarily reducing its return to 50% from this month, and there are other board members who have voluntarily accepted this measure. Nissan also sold its 10% stake in Mitsubishi Motors from its 34% stake to generate a return of 68.6 billion yen (about 15 billion baht). As for measures related to work efficiency, Nissan will shorten the development period of new models to 30 months.

Nissan will also strengthen its partnership with Renault and Mitsubishi alliances. As for the earnings assessment, by the end of this fiscal year or next March, Nissan has lowered the figure to 150 billion yen (about 33 billion baht), 70% lower than the initial estimate. I did not think that hybrid cars, which are a small product group of the company, would grow so fast, and there were also obstacles in the development of new cars.

Link:

[CARDEEP]

To be honest, it is karma catching up on the entity after the Carlos Ghosn arrest & humiliation. Japanese have strict laws for upper executives pay, something which does sync with capitalistic mindset of these executives & they seek pay parity with those in European brands & for similar effort. I still believe Carlos was one who was making quite a few good moves something the Japs could never had done on own, because they were assuming people will buy for reliability & Godzilla (GTR) reputation.

Barring Toyota & Suzuki none of the Japs are actually doing good these days & the clock is ticking for most to be taken over by Toyota or other Jap autoco (false Jap pride & legislation).

Any business is good till it is cash surplus, otherwise it's just being managed by accountants & managers... & that's what happening here too.

[SKC-auto]

All those global manufacturers dependent on China will face difficulties. The same is seen with BMW, Audi, VW and now Nissan.

Even Toyota gets 16% sales from China, in next 5 years it might reach to 0%. That's not a small loss.

[zeus18]

Japanese media has reported that next generation outlander of Mitsubishi faces difficulty in development all of a sudden as Nissan decided to divest Mitsubishi shares. Currently, Mitsubishi outlander is based on the xtrail/ rogue.

A few weeks ago, American youtuber Kirk reported that Nissan might get hybrid powered car to the USA sooner than the expected 2026 in form of PHEV using the technology available with Mitsubishi. Though Nissan will continue to own 23 percent of Mitsubishi, I wonder if there will be any hurdles in developing models. Nissan has also outlined more collaboration with Renault and Mitsubishi.