Struggling to sell vehicles, Japanese carmaker Nissan cuts 9,000 jobs
Trending News
1 month, 2 weeks ago

Struggling to sell vehicles, Japanese carmaker Nissan cuts 9,000 jobs

Firstpost  

Chief Executive Makoto Uchida also took a 50% pay cut to take responsibility for the dismal results, while promising that a turnaround was coming Logos at a Nissan showroom are seen in Ginza shopping district in Tokyo, on March 31, 2023. AP File Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs. For the latest quarter through September, Nissan racked up a 9.3 billion yen loss, a reversal from the 190.7 billion yen profit recorded the same quarter a year ago. Nissan, based in the port city of Yokohama, reported fiscal first half sales revenue of 5.98 trillion yen, edging down 1% from the more than 6 trillion yen the same period last year. Nissan lowered its sales revenue forecast for the fiscal year through March 2025 to 12.7 trillion yen from an earlier projection for 14 trillion yen.

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History of this topic

This carmaker exported 3 times its domestic sales in November. Not Maruti, Hyundai, Tata
2 weeks, 4 days ago

This carmaker exported 3 times its domestic sales in November. Not Maruti, Hyundai, Tata

India Today  

Nissan Motor India has announced that it recorded cumulative wholesales of 9,040 units in November, selling 2,342 units in the domestic market and exporting 6,698 units. "It's a matter of great pride for all of us at Nissan Motor India to see our brand crossing the 5,00,000 domestic sales milestone. This remarkable feat reflects the continued trust our customers have …

Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges
3 weeks, 2 days ago

Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges

Live Mint  

-- Nissan Motor Co. Chief Financial Officer Stephen Ma is set to step down from his position, people with knowledge of the matter said, marking yet another executive change at a challenging time for the Japanese carmaker. The change, which comes 17 months after Ashwani Gupta left as Nissan’s chief operating officer, follows an announcement last month that it will …

Nissan stock slumps after it announces 9,000 job cuts and a plan to slash production
1 month, 2 weeks ago

Nissan stock slumps after it announces 9,000 job cuts and a plan to slash production

CNN  

Nissan Motor shares slumped 6% in Tokyo trade Friday, a day after the Japanese automaker said it would cut 9,000 jobs and a fifth of its manufacturing capacity as it struggles with sales in China and the United States. CEO Makoto Uchida said Thursday that Nissan had not foreseen hybrids’ sudden popularity in the US and that demand for revamped …

Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell
1 month, 2 weeks ago

Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell

Associated Press  

TOKYO — Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs. For the latest quarter through September, Nissan racked up a 9.3 billion yen loss, a reversal from the 190.7 billion yen profit recorded the same quarter a year ago. Nissan, …

Japanese automaker Honda reports lower profits as China sales decline
1 month, 2 weeks ago

Japanese automaker Honda reports lower profits as China sales decline

The Independent  

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Toyota reports record quarterly profit, boosted by a weak yen and despite a certification scandal
4 months, 3 weeks ago

Toyota reports record quarterly profit, boosted by a weak yen and despite a certification scandal

Associated Press  

TOKYO — Toyota reported Thursday that its April-June profit rose 1.7%, boosted by a favorable exchange rate, as vehicle sales grew around the world despite a certification scandal that halted production in Japan for several months. Fiscal first quarter profit at Japan’s top automaker rose to 1.33 trillion yen, a record profit for that period, from 1.31 trillion yen the …

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes
4 months, 4 weeks ago

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes

Associated Press  

TOKYO — Nissan lowered its full fiscal year outlook on Thursday, as the Japanese automaker reported a 73% decline in profit in the April-June quarter compared to the previous year. The profit challenges came despite its global vehicle sales holding steady at 787,000, according to Nissan Motor Co., based in the port city of Yokohama. Nissan’s fiscal first quarter profit …

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes
4 months, 4 weeks ago

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan lowered its full fiscal …

Japanese automaker Honda reports booming profit on sales growth, weak yen
7 months, 1 week ago

Japanese automaker Honda reports booming profit on sales growth, weak yen

Associated Press  

TOKYO — Honda’s profit for the fiscal year through March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported Friday. Annual profit at Tokyo-based Honda Motor Co. totaled 1.1 trillion yen as sales surged nearly 21% to 20.4 billion yen. The maker of the Accord sedan and CR Electric Proto motorcycles was …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan’s profit for the fiscal …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

Associated Press  

TOKYO — Nissan’s profit for the fiscal year through March jumped 92% to 426.6 billion yen as sales grew in all major global markets except China, the Japanese automaker said Thursday. Chief Executive Makoto Uchida said Nissan was aiming for further growth under a strategy called “The Arc,” kicking in from last month, focusing on electric vehicles to boost sales. …

Toyota racks up booming profit, vows to invest to keep growth going
7 months, 2 weeks ago

Toyota racks up booming profit, vows to invest to keep growth going

Associated Press  

TOKYO — Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker. Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen, up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen, the company said Wednesday. …

Japan’s Toyota posts record 4.9tn yen profit driven by hybrid demand
7 months, 2 weeks ago

Japan’s Toyota posts record 4.9tn yen profit driven by hybrid demand

Al Jazeera  

Japanese car giant says net profit reached 4.94 trillion yen in the year to March. Toyota has reported record profit and sales figures on the back of the weak yen and strong demand for hybrid vehicles. The Japanese car giant said on Wednesday that it netted a record profit of 4.94 trillion yen in the year to March on revenues …

Nissan to export China-made vehicles from 2025
8 months, 3 weeks ago

Nissan to export China-made vehicles from 2025

China Daily  

Nissan's electric Arizon concept makes its global debut at the Shanghai auto show on April 18, 2023. The carmaker also plans to refresh 73 percent of Nissan-brand models and launch eight new energy vehicles, including four Nissan-branded models, by fiscal year 2026 in China, its second-largest market. Globally, Nissan aims to lift its annual sales by 1 million units and …

Japan’s Honda reports its profit rose on the back of strong U.S. demand
10 months, 2 weeks ago

Japan’s Honda reports its profit rose on the back of strong U.S. demand

Associated Press  

TOKYO — Japanese automaker Honda’s profit rose 3.5% in the October-December quarter from a year earlier on the back of solid demand in the U.S. and Europe and a recovery in its home market, the company said Thursday. A favorable exchange rate helped amplify Honda’s overseas profits in yen terms and is expected to continue through the rest of the …

Japan's Honda reports its profit rose on the back of strong U.S. demand
10 months, 2 weeks ago

Japan's Honda reports its profit rose on the back of strong U.S. demand

The Independent  

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Japan’s Toyota raises its profit outlook after solid earnings helped by a weak yen
10 months, 2 weeks ago

Japan’s Toyota raises its profit outlook after solid earnings helped by a weak yen

Associated Press  

TOKYO — Toyota raised its full fiscal year profit forecast Tuesday after reporting its profit in the October to December quarter nearly doubled from the year before. Toyota Motor Corp.’s third quarter profit totaled 1.36 trillion yen, up from 727.9 billion yen in the same period in 2022, as Japan’s top automaker recovered from losses suffered when the coronavirus pandemic …

Japanese automaker Nissan's profits zoom on strong sales, favorable exchange rates
1 year, 1 month ago

Japanese automaker Nissan's profits zoom on strong sales, favorable exchange rates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan’s profit zoomed up more …

Toyota’s profits rise as global chips supply crunch subsides
1 year, 7 months ago

Toyota’s profits rise as global chips supply crunch subsides

Associated Press  

TOKYO — Toyota’s January-March profit edged up 3% from the previous year on robust sales as a chips supply crunch gradually eased. The automaker’s sales for the fiscal year that ended in March rose across global regions, including Japan, the United States, Europe and other markets, such as Asia, the Middle East and South America. Toyota, based in Aichi prefecture’s …

Japan’s Nissan reports better profit as chip crunch eases
1 year, 10 months ago

Japan’s Nissan reports better profit as chip crunch eases

Associated Press  

TOKYO — Nissan reported a 55% jump in its October-December profit Thursday, as the Japanese automaker gears up for a less bumpy journey with its French alliance partner Renault. Some buyers were waiting for a year for their Z sportscars or Ariya sport utility vehicles, said Nissan’s chief operating officer, Ashwani Gupta. Nissan, maker of the Leaf electric car and …

Japan's Nissan reports better profit as chip crunch eases
1 year, 10 months ago

Japan's Nissan reports better profit as chip crunch eases

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan reported a 55% jump …

Honda sees declining profits on semiconductor crunch
2 years, 4 months ago

Honda sees declining profits on semiconductor crunch

Hindustan Times  

Honda's fiscal first-quarter profit fell 33 per cent from last year as a global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker. Honda Motor Co. reported on Wednesday that its profit totalled 149.2 billion yen in the April-June quarter Tokyo-based Honda Motor Co. reported on Wednesday that its profit …

Toyota’s quarterly profit down on COVID parts crunch
2 years, 7 months ago

Toyota’s quarterly profit down on COVID parts crunch

Associated Press  

TOKYO — Toyota’s profit declined 31% in the January-March quarter from the year before, but the Japanese automaker still wrapped up a year of record earnings. Toyota Motor Corp. reported Wednesday a profit of 533.8 billion yen in the last quarter, down from 777.1 billion yen the previous fiscal year. The company still sold 8.2 million vehicles around the world …

Monthly sales hit but full year looking good
3 years, 5 months ago

Monthly sales hit but full year looking good

China Daily  

BYD displays its Qin Plus DM-i model at the 2021 Chongqing International Auto Exhibition last month. More than 1.2 million electric cars and plug-in hybrids were sold in the first half, up over 200 percent year-on-year and accounting for 9.4 percent of total new car sales in the period. Its sales in the first half of the year totaled 618,211 …

Nissan to promote Japan-based contract workers to full-time
3 years, 11 months ago

Nissan to promote Japan-based contract workers to full-time

Hindustan Times  

Nissan Motor Co. is moving to promote all contract workers in Japan to full-time positions as the automaker’s push to cut fixed costs gives it more room to invest in its talent pool. About 700 contract employees at Nissan’s plants, R&D centers and head office in Yokohama will be made full-time employees on April 1, Azusa Momose, a spokeswoman for …

Japanese automaker Nissan posts loss amid pandemic, scandal
4 years, 1 month ago

Japanese automaker Nissan posts loss amid pandemic, scandal

Associated Press  

TOKYO — Nissan posted a loss of 44.4 billion yen in the last quarter as the pandemic slammed profitability and the Japanese automaker fought to restore a brand image tarnished by a scandal centered on its former star executive Carlos Ghosn. Chief Executive Makoto Uchida promised the company will work hard to recover and become “a trusted company,” delivering products …

Toyota Predicts 64 Percent Plunge in Annual Net Profit Amid Covid-19 Fallout
4 years, 4 months ago

Toyota Predicts 64 Percent Plunge in Annual Net Profit Amid Covid-19 Fallout

News 18  

Toyota warned of a 64 percent drop in full-year net profit and reported a slump in quarterly earnings, as the coronavirus pandemic shreds the global auto market. Japan's top carmaker, which had previously declined to give a bottom-line forecast because of ongoing uncertainty, now projects net profit at 730 billion yen for the fiscal year to March, down from 2.07 …

Nissan warns of record loss as pandemic hits turnaround
4 years, 4 months ago

Nissan warns of record loss as pandemic hits turnaround

Live Mint  

Nissan Motor Co <7201.T> warned of a record $4.5 billion operating loss this year and its lowest sales in a decade as the COVID-19 pandemic hampers its turnaround efforts. The company forecast an operating loss of 470 billion yen for the year to March 2021, much larger than analysts' consensus estimate for a 262.8 billion yen loss, according to Refinitiv …

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