Nissan announced big losses

Nissan announced big losses

February 14, 2020 0 By autotimesnews

Nissan Motor has published a report on last year’s results. In the third fiscal quarter, the automaker’s net loss amounted to $ 237 million. This happened in connection with a decrease in the volume of car sales: sales fell 8.1% to 3.7 million units.

In the USA, this indicator decreased by 9.1% to 980 thousand units; in Europe – by 16.2%, up to 395 thousand cars; in other car markets – by 11.5%, up to 547 thousand units.

The PRC remains promising for the company: the total volume of production in this state fell by 10.7%, but Nissan sales amounted to 1.09 million units – almost at the same level as last year. The market share occupied in China increased by 0.6% to 6.3%. All this due to good sales of the main models, including the Sylphy sedan and the X-Trail cross.

 As indicated in the message, the forecast of operating profit at the end of the fiscal year decreased from $ 1 trillion to $ 592 million. Expected sales of cars will amount to 5.05 million copies worldwide. This is 4% lower than previous plans.

 Given such forecasts, as well as the need for investment in future technologies to enhance the competitiveness of the corporation, we decided not to pay dividends for the last quarter.