Nissan is considering selling two of its European plantsOctober 26, 2019
Nissan is exploring the sale of its two plants in Europe as the company develops a recovery plan and the industry makes an expensive switch to electric cars.
Referring to unnamed sources familiar with this issue, Bloomberg reports that the Japanese automaker is already evaluating the interest of potential buyers in its factories in the UK and Spain. Another option that Nissan is considering is selling one or both plants, as the brand’s market share in Europe has declined. Although there is no final decision yet, potential buyers may include Chinese automakers, according to sources.
Nissan’s profit for the first half fell to almost zero, and the new CEO Makoto Uchida faced a difficult battle. “We currently do not plan to sell these two plants in Europe,” said Azusa Momose, spokeswoman for Nissan. As early as July, Nissan said it planned to cut 12,500 jobs worldwide, since, according to sources, the automaker is keen to focus on its domestic market, as well as China and the United States.
In addition, Nissan is considering importing its models into Europe directly from Japan, now that the trade barriers with the EU have disappeared. Thus, he will no longer need factories in the region. The Japanese automaker also plans to reduce a number of unprofitable models, including the Datsun brand in general and other compact cars. Nissan Micra is reportedly one of them. Nissan has already announced a number of reduction measures in Europe, including the reduction of 600 jobs at its factory in Barcelona, Spain, which currently operates below its capacity of about 200,000 cars a year. The company’s British plant in Sunderland was also in the news, as Nissan warned the local government that an inconclusive Brexit would make the enterprise unviable.
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