Nissan Motor Co. announced on the 7th that it will cut 9,000 jobs worldwide. Global production capacity will also be reduced by 20%. This is because the company’s performance continues to be poor, with its interim financial results for the period ending September 2024 announced on the same day showing operating profit down 90.2% from the same period last year to 32.9 billion yen. It will also sell some of its Mitsubishi Motors shares. Sales decreased 1.3% from the same period last year to 5.9842 trillion yen, and net profit decreased 93.5% to 19.2 billion yen. Global sales fell 3.8% year-on-year to 1.585 million units, marking the first decrease in two years. In particular, the company’s profits deteriorated due to the fact that it did not introduce hybrid vehicles (HVs), which are selling well in the United States, and because it increased subsidies in response to fierce sales competition. (Akihiro Nishiyama) The Asahi Shimbun Company Interim dividend will be postponed. The final dividend has not yet been determined. Previous thread: Nissan Motors cuts 9,000 jobs worldwide, sells some Mitsubishi Motors shares, dividends undecided – Net profit down 90% [Dodon★].
The only thing we can rely on now is the old series hybrid that has just been given a fancy name like e-power, so while something like that might make Japanese people shut up, it’s not even worth discussing overseas.
Sales decreased 1.3% from the same period last year to 5.9842 trillion yen, and net profit decreased 93.5% to 19.2 billion yen. Global sales were down 3.8% year-on-year to 1.585 million units. Revenues and sales volumes are flat, but profits are down 93%. Management is just shit.
In the past, they had hybrids on the popular Altima, Rogue, Murano, and Infiniti Q50, but they discontinued them all, which was as foolish as swapping out the bombs at the Battle of Midway.
I tried to test drive an Elgrand the other day, but there were no test drive cars available. It’s the most important thing about minivans. No wonder it can’t compete with the Alber, which you can test drive anywhere. Instead of just releasing unused cars, increase the number of test drive cars.
>>30 I can’t say Ghosn is particularly good. All he did was stop making attractive cars, the kind of wasteful development Nissan is known for, sell off all resources, cut staff, and free up fixed costs. Although their management didn’t care what would happen 10 or 20 years from now, they were more realistic than the previous Nissan management. After Ghosn, they explored what they could do with the leftovers, and decided not to do anything since it wasn’t possible. The result was that there was no car that people wanted to buy, and the new car was a ridiculous super sports car.
>>45 >>1 Profits have worsened due to the lack of hybrid vehicles (HVs), which are particularly popular in the US, and increased subsidies in the face of fierce sales competition. Because they didn’t fit in with the SDGs-conscious crowd. I’m from the racer generation, so I liked Nissan cars, but there’s no Mitsubishi car that I found attractive.
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