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Drew Dowdell

Nissan News: Nissan Profit Plunges 99%; 12,500 Job Cuts Eminent

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Yesterday we reported that Nissan may be cutting up to 10,000 jobs.... we were short by about 2,500. Nissan Motor Company's CEO Hiroto Saikawa said "The results were really more negative than we expected" in a financial briefing at Nissan Headquarters.  Operating profit was nearly wiped out, falling to just $14.8 million in the first fiscal quarter ending June 30th.  Operating margin shrank from 4.0 percent last year to barely 0.1 percent this year.  Global retail volume fell 6.0% to 1.23 million vehicles.

On the back of these poor results. Nissan has annouced job cuts of up to 12,500 worldwide as part of a plan to revive the company.  Of that, 6,400 job cuts are already underway with 1,420 jobs lost in the U.S.  An additional 6,100 job cuts are planned over the next 4 years. Most of the job cuts will be at plants that are working below capacity. 

In the U.S., Nissan is trying to move away from fleet sales and focus on increasing retail sales, with the goal of boosting retail sales by 100,000 units. 


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Still more profits than Diamler... 😉

22 minutes ago, Drew Dowdell said:

In the U.S., Nissan is trying to move away from fleet sales and focus on increasing retail sales, with the goal of boosting retail sales by 100,000 units

I didn't know they sold retail. I thought they were a rental car company, exclusively. 

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The sins of excessive dependence on fleet sales have finally visited themselves on Nissan.  Apparently, they have not learned from Ford and GM that moving the metal kills profits AND resale values.  I do hope that Nissan has the guts to close underperforming factories as opposed to just cutting hours and shifts.

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16 minutes ago, riviera74 said:

The sins of excessive dependence on fleet sales have finally visited themselves on Nissan.  Apparently, they have not learned from Ford and GM that moving the metal kills profits AND resale values.  I do hope that Nissan has the guts to close underperforming factories as opposed to just cutting hours and shifts.

Apparently they are killing a plant in Indonesia and in India.

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4 hours ago, Drew Dowdell said:

Apparently they are killing a plant in Indonesia and in India.

Not sure if that will be enough.....

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12 hours ago, Potluck said:

They could close 100% of their plants and no one would miss them.

Single mothers would still miss them. 

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18 minutes ago, ccap41 said:

Single mothers would still miss them. 

That's what Kia and Hyundai are for.

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10 hours ago, ccap41 said:

Single mothers would still miss them. 

wow.. did i just read that

on second thought i know a few that drive nissans hmmmmmmmm

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      148,720
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      93,538
      130,655
      -28.4
      INFINITI sales*
      11,243
      18,065
      -37.8
       
       
       
       
      Calendar Year Total Sales (units)
      1,345,681
      1,493,877
      -9.9
      Nissan Division sales
      1,227,973
      1,344,597
      -8.7
      INFINITI Sales*
      117,708
      149,280
      -21.1
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      NOTE: To ensure consistency in global sales reporting, Nissan North America calculates monthly variances on a straight-percentage basis, unadjusted for the number of selling days. December 2019 had 25 days, while December 2018 had 26 selling days.
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      CYTD
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      2019
      2018
      % chg
      2019
      2018
      % chg
       
       
       
       
       
       
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      93,538
      130,655
      -28.4
      1,227,973
      1,344,597
      -8.7
      Versa
      3,265
      6,735
      -51.5
      66,596
      75,809
      -12.2
      Sentra
      11,033
      17,567
      -37.2
      184,618
      213,046
      -13.3
      Altima
      19,132
      17,064
      12.1
      209,183
      209,146
      0.0
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      3,387
      5,600
      -39.5
      35,076
      42,337
      -17.2
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      1,227
      1,667
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      12,365
      14,715
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      5
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      11
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      158
      202
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      2,384
      3,468
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      25
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      331
      538
      -38.5
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      48,865
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      510,564
      559,790
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      5,704
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      58,193
      23,312
      149.6
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      4,720
      7,492
      -37.0
      72,369
      79,646
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      1,916
      4,661
      -58.9
      31,514
      50,459
      -37.5
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      5,894
      6,799
      -13.3
      65,691
      67,550
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      2,967
      2,874
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      32,044
      32,650
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      27,331
      42,523
      -35.7
      350,447
      412,110
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      5,187
      8,033
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      68,361
      83,547
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      3
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      1,719
      2,013
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      18,768
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      784,807
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      970,563
      1,022,140
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      507,838
      555,053
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      48,062
      -26.2
      462,725
      467,087
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      33,960
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      257,410
      322,457
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      175
      232
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      2,726
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      33,728
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      197,372
      317,720
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      18,065
      -37.8
      117,708
      149,280
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      2,165
      3,690
      -41.3
      25,987
      34,763
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      430
      662
      -35.0
      5,043
      9,017
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      90
      329
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      2,552
      4,479
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      647
      -92.3
      3,229
      8,101
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      3,329
      -45.5
      18,616
      25,389
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      7,032
      -41.5
      43,162
      47,370
      -8.9
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      4
      -100.0
      6
      954
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      2,372
      8.8
      19,113
      19,207
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      4,681
      -42.6
      33,582
      48,259
      -30.4
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      8,558
      13,384
      -36.1
      84,126
      101,021
      -16.7
       
       
       
       
       
       
       
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      DECEMBER
      DECEMBER
      Monthly
      CYTD
      CYTD
      CYTD
      2019
      2018
      % chg
      2019
      2018
      % chg
       
       
       
       
       
       
      104,781
      148,720
      -29.5
      1,345,681
      1,493,877
      -9.9
      Total Car
      40,904
      53,546
      -23.6
      544,146
      608,049
      -10.5
      Total Truck
      63,877
      95,174
      -32.9
      801,535
      885,828
      -9.5
      Selling days
      25
      26
       
      307
      307
       
       
      # # #
    • By Drew Dowdell
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      CYTD
      CYTD
      CYTD
       
      2019
      2018
      % chg
      2019
      2018
      % chg
       
       
       
       
       
       
       
      INFINITI Total
      11,243
      18,065
      -37.8
      117,708
      149,280
      -21.1
      Q50
      2,165
      3,690
      -41.3
      25,987
      34,763
      -25.2
      Q60
      430
      662
      -35.0
      5,043
      9,071
      -44.4
      Q70
      90
      329
      -72.6
      2,552
      4,479
      -43.0
      QX30
      50
      647
      -92.3
      3,229
      8,101
      -60.1
      QX50
      1,815
      3,329
      -45.5
      18,616
      25,389
      -26.7
      QX60
      4,113
      7,032
      -41.5
      43,162
      47,370
      -8.9
      QX80
      2,580
      2,372
      8.8
      19,113
      19,207
      -0.5
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      2,685
      4,681
      -42.6
      33,582
      48,259
      -30.5
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      8,558
      13,384
      -36.1
      84,126
      101,021
      -16.7
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