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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 is blazing an unconventional path to electrification

When it comes to electrification, Infiniti has a history of speaking a great deal but doing little. The Nissan-owned company's plug-in offensive will start in the 2020s, and it provided preliminary details about the technology that motorists can expect to find in showrooms in the not-too-distant future. Eric Rigaux, Infiniti's general manager of product strategy and planning, told Roadshow the firm's engineering department is putting the final touches on two forward-thinking electrified powertrains. The first one will run solely on electricity, while the second one will rely on a gasoline-powered generator to provide more range. Both are being developed to fit into a flexible new platform. Technical details about the electric setup remain vague, so we don't know how big of a battery pack Infiniti will use, or how many motors will draw electricity from it. However, Roadshow learned the gasoline-electric layout will never need to be plugged in, because a 1.5-liter, three-cylinder engine equipped with Infiniti's innovative variable-compression technology will produce the electricity it needs to run. The triple won't directly spin the wheels; it will channel the juice it creates to a battery pack. It's not a zero-emissions solution, but it's one that makes a lot of sense, because users won't need to wait for a charge, and they'll be able to drive for about 500 miles between fill-ups. The now-defunct Chevrolet Volt featured a similar drivetrain, but owners had the possibility of plugging it in. Infiniti won't give motorists that option; there won't be a plug anywhere on the car. Fluid-filled motor mounts and active noise cancellation will ensure the passengers don't feel or hear the triple whirring away. Meanwhile, two electric motors (one over each axle) will deliver between 248 and 429 horsepower; final specifications haven't been signed off yet. And, because power will come from gasoline, there's no need to integrate a bulky battery pack into the chassis. Infiniti's future gasoline-electric models won't require anything bigger than a 5.1-kilowatt-hour unit, which can unintrusively be stuffed under the trunk floor or sandwiched between the floor and the rear seat. Infiniti chose a crossover to inaugurate its battery-electric powertrain; the QX Inspiration concept (pictured) unveiled during the 2019 Detroit Auto Show shed light on what the model will look like.

2015 Belgian Grand Prix is a return to scheduled programming

With summer intermission over, the second half of the Formula One season commenced in the Belgian countryside at Spa-Francorchamps. After qualifying, it looked a lot like the first half of the season with just a few minor changes. Lewis Hamilton was even more dominant in his Mercedes-AMG Petronas than usual, regularly taking half a second out of his teammate in just the middle sector of the circuit. Teammate Nico Rosberg tightened it up a tad for his final hot lap, but Hamilton still took pole by 0.45 seconds ahead of Rosberg in second. With his Williams back at a power track, Valtteri Bottas got himself up to third, although more than a second behind Hamilton. Romain Grosjean in the Lotus in fourth had his best qualifying performance since his fourth-place grid spot at the 2013 US Grand Prix. This was a huge boon for Lotus, the team facing another financial issue off track that threatened to have its cars impounded as soon as they left the circuit. Grosjean had to have his gearbox changed before the conclusion of six races, however, so the five-spot penalty meant he'd actually line up ninth for the race. Sergio Perez put the Sahara Force India in fifth, where we're more used to seeing his teammate Nico Hulkenberg, just ahead of Daniel Ricciardo in the Infiniti Red Bull Racing in sixth. Felipe Massa got the second Williams in seventh, in front of the second Lotus of Pastor Maldonado in eighth. Then came the first and only Ferrari in the top ten, Sebastian Vettel qualifying ninth after a disappointing Saturday for the scuderia; teammate Kimi Raikkonen suffered gearbox issues and qualified way down in 16th. Carlos Sainz took tenth in the Toro Rosso. A new start procedure in Belgium meant drivers had to handle clutches on their own, without the engineers finely tuning bite points between the garage and the start line. That was in conjunction with another rule limiting the kinds of radio messages possible between engineers and drivers, aiming to put more of the car in the drivers' hands. After an aborted start when Hulkenberg's car quit while sitting on the grid, Hamilton made the most of the new procedure. His start wasn't amazing but he beat everyone else off the line, while those behind were alternately getting bogged down or leaping ahead. Midway through the first lap the top ten was Hamilton, Perez, Ricciardo, Bottas, Rosberg, Vettel, Maldonado, Grosjean, Massa, Marcus Ericsson. At the end of 43 laps, Hamilton would still be in the lead.