Nissan sells itself out of crisis

Nissan sells itself out of crisis

September 23, 2019 0 By autotimesnews

Nissan intends to sell a subsidiary of Nissan Trading, which supplies spare parts and materials to the secondary market. The firm is valued at $ 1 billion.

The automaker expects that the sale of a subsidiary will help to overcome the financial difficulties that the company has been experiencing recently. According to Bloomberg, the automaker has already received offers to purchase the unit from private and trading companies. By October, Nissan is about to choose a buyer.

An interesting fact, according to the same Bloomberg, last year Nissan Trading showed revenue of $ 6 billion, but the concern itself has not been feeling the best way since 2018. Sales of car brands fell in many markets, including the key – the United States. As a result: operating profit hit a low in a decade.