Auto blog

Nissan could report first quarterly loss since March 2009

TOKYO — Nissan may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn's ouster. Deteriorating profits underscore the challenges facing Nissan, which is unwinding many of the expansionist strategies championed by ex-Chief Executive Officer and Chairman Ghosn by slashing jobs, production sites and product offerings to save cash and ensure its survival. In addition to slumping sales, production disruptions caused by China's coronavirus outbreak could also drag profits lower. Three senior officials at Japan's No. 2 automaker told Reuters that they anticipate a poor results announcement on Thursday, with one of them calling the figures "dismal". Two of the officials cautioned that there is the possibility of an operating loss, which would be the first quarterly loss since the period ending in March 2009. Nissan said it could not comment on its financial results ahead of its official announcement. The company is likely to report operating profit of 48.6 billion yen ($442.5 million) for the quarter ending in December, less than half the 103 billion yen profit a year ago, according to SmartEstimate's survey of three analysts, who revised their forecasts in January. However, those forecasts were issued before the release of the December vehicle sales figures on Jan. 30, which show third-quarter sales dropped by 11% from the year earlier period, according to Reuters calculations. That is the biggest quarterly slump of its current sales downturn that began two years ago. That sales decline led one auto equities analyst based in Japan to scrap his forecast and also warn that Nissan could post a loss. "It will be a question of whether there will be a profit or a loss. For the quarter, a loss is a possibility," he said, declining to be named as his forecast had not been updated to reflect his latest view. One of the three Nissan officials said there is a risk the automaker may cut its full-year profit forecast of 150 billion yen, which would be an 11-year low. The company announced that forecast in November after an initial 230 billion yen outlook.

Infiniti takes QX60 on vacation for National Lampoon-inspired ad

Infiniti is packing up its version of the Wagon Queen Family Truckster for a new ad inspired by the American comedy classic National Lampoon's Vacation. Well, actually the 30-second spot replaces the green station wagon with a QX60, but the commercial does a great job of evoking the movie in a short time. The release timing is clearly perfect too given the remake hitting theaters on July 29 with Ed Helms and Christina Applegate. Infiniti's ad replicates one of the film's memorable scenes, but it replaces Chevy Chase behind the wheel of the Family Truckster and Christie Brinkley in a Ferrari 308. Instead, we get Ethan Embry in a QX60 and a blonde in a Lamborghini Gallardo droptop. The slight twist at the end really makes the commercial work, though. The ad starts airing nationally on July 9, but you can watch it streaming above now. Beyond just the surface-level homage, Infiniti gives the spot a slightly deeper connection to the Vacation series. In 1997's Vegas Vacation, Embry played Rusty. INFINITI DEBUTS NEW QX60 "VACATION" AD CAMPAIGN Infiniti recreates famous scene from "National Lampoon's Vacation" in 30-second commercial with 2015 QX60 Luxury Crossover Commercial stars Christie Brinkley and Ethan Embry Campaign includes extensions in digital and social media NASHVILLE, Tenn. – Infiniti has released a new campaign for the 2015 QX60, inspired by the 1983 classic "National Lampoon's Vacation" which coincides with the July 29 release of Warner Bros. Studio's remake. The campaign begins with a TV commercial starring the original movie's car-loving blonde bombshell and supermodel, Christie Brinkley, and puts a spin on the famous movie scene as the modern day family heads to Walley World. In the national spot titled "Vacation," Ethan Embry (who notably starred as Rusty in "Vegas Vacation") loads his family in the roomy 3-row QX60 and hits the road for Walley World. While on the road trip, Ethan looks in his side view mirror and sees an attractive blonde in a sports car fast approaching. As Ethan and the blonde keep up with each other on the highway, Christie Brinkley is revealed as his wife who catches this action and ends the scene with an ironic response: "Honey, a blonde in a convertible? Seriously?" The popular Infiniti QX60 continues to stand out in the premium crossover segment, excelling in the areas that luxury crossover buyers desire most – interior versatility, roominess, available safety, and available advanced hospitality features.

Infiniti boss ices plan for EV

Infiniti President Johan de Nysschen has postponed plans for an electric vehicle in order to focus on high-volume models. Automotive News reports de Nysschen is attempting to be realistic about Nissan CEO Carlos Ghosn's goal of nearly tripling Infiniti global sales from 170,000 units last year to 500,000 by March 31, 2017, saying, "500,000 cars by 2017 is an inordinately ambitious challenge." An electric vehicle would likely sell in rather small numbers.
Still, the executive is already making moves to improve Infiniti sales worldwide with new production in both China and England. Meanwhile, the company plans to unveil a new volume compact sedan set to bow in 2015. Meanwhile, de Nysschen is also working on two new models above the company's current M line. Those will borrow styling cues from machines like the Essence Concept, but will be far less exotic, tilting more toward high-performance luxury than true sports car.