Nissan Motor Co. vowed to close seven factories and slash 20,000 jobs after posting its biggest annual loss since French carmaker Renault SA rescued it from near bankruptcy a quarter century ago.
The Japanese automaker decided against issuing an operating profit forecast for the fiscal year ending March 2026, and reported a net loss of ¥670.9 billion ($4.5 billion) for the year that ended in March.
“The reality is clear,” Nissan’s newly minted Chief Executive Officer Ivan Espinosa said on Tuesday in his first post-earnings briefing since taking the top job in April. “Nissan must prioritize self-improvement with greater urgency and speed.”
Nissan also confirmed it will cut 20,000 jobs, including the loss of 9,000 roles it announced in November. The measures are aimed at cutting costs by ¥500 billion.
Read the full article HERE: Nissan Shuts Plants, Culls Jobs After Worst Loss in 25 Years
Nissan Shuts Plants, Culls Jobs After Worst Loss in 25 Years
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IanS
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Re: Nissan Shuts Plants, Culls Jobs After Worst Loss in 25 Years
I am Jack's complete lack of surprise.
They ruined basically their entire product line with the only transmission worse than the 4L60. Mitsubishi made the same mistakes. If you're not going to beat Honda and Toyota at the reliability game, you need to at least offer a better driving experience, and you need to do it on all the models, not just the halo cars. You need to be desirably different, not just different for difference sake. Nissan was always the sporty option over the other JDM manufacturers, and there is nothing sporty about the Nissan CVT. It is the antithesis of sport. I'm not a big fan of brand loyalty, but it sells cars, and when you alienate a large percentage of your core customer base, you're going to have a hard time.
The rogue most of all is a Joke, I feel sorry for anyone who got conned into buying one. Its the only car on the road worse than a Dodge journey at magically ruining all its suspension components faster than most owners can afford to replace them. I'm going to put my kids through college on lower control arm replacements alone. And just when you think you're safe, the CVT blows up for the first time at 60K. All this and it hasn't seen a major update since they rolled the first ones out. Like 18 years ago.
Nissan did this to themselves, and I hope other manufacturers see these mistakes and avoid making them for themselves.
They ruined basically their entire product line with the only transmission worse than the 4L60. Mitsubishi made the same mistakes. If you're not going to beat Honda and Toyota at the reliability game, you need to at least offer a better driving experience, and you need to do it on all the models, not just the halo cars. You need to be desirably different, not just different for difference sake. Nissan was always the sporty option over the other JDM manufacturers, and there is nothing sporty about the Nissan CVT. It is the antithesis of sport. I'm not a big fan of brand loyalty, but it sells cars, and when you alienate a large percentage of your core customer base, you're going to have a hard time.
The rogue most of all is a Joke, I feel sorry for anyone who got conned into buying one. Its the only car on the road worse than a Dodge journey at magically ruining all its suspension components faster than most owners can afford to replace them. I'm going to put my kids through college on lower control arm replacements alone. And just when you think you're safe, the CVT blows up for the first time at 60K. All this and it hasn't seen a major update since they rolled the first ones out. Like 18 years ago.
Nissan did this to themselves, and I hope other manufacturers see these mistakes and avoid making them for themselves.
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PapaSmurf2k3
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Re: Nissan Shuts Plants, Culls Jobs After Worst Loss in 25 Years
Yup!
Let's put s*** CVTs in EVERYTHING. Let's put melting dashboards in our #1 seller and then refuse to help the customers out when they have an issue. Let's push the lowest ranked dealer network. Let's shutter the launch of a desirable car (the Z) in favor of another EV crossover that's outgunned by the competition.
But hey at least the Frontier is still ok.