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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.

2017 Infiniti Q60 glitters in gold for the Neiman Marcus Christmas catalog

It's that time of year again. The air is getting cooler, the leaves are changing colors, and Neiman Marcus has selected this year's car for its annual Christmas Book. The limited-edition ride is a 2017 Infiniti Q60 based on the 400-horsepower Red Sport 400 model. What really sets this Neiman Marcus version apart from the average Red Sport is the striking paint job. Called Solar Mica, the paint looks a bit like a glossy gold leaf. Combined with the Gallery White leather interior with Silver Optic Fiber trim, this is an Infiniti that would be perfect for Yukon Cornelius. In addition to the color scheme, the car comes with an ivory leather weekend bag, an indoor car cover with Neiman Marcus branding, a plaque with the VIN number, and a certificate of authenticity. Oh, it also comes with a $63,000-price tag, which is a about $10,000 more than an entry level Red Sport 400 with rear-wheel drive. Neiman Marcus will only offer 50 examples of this Infiniti, and it goes on sale at noon on November 2. Interested buyers can call to reserve one at (844) 367-6971. If you're serious about buying, you'll probably want that number on speed dial. The special edition Neiman Marcus cars tend to sell out fast. In 2009, 50 Jaguar XJLs sold out in just over four hours. In 2012, 12 McLaren MP4-12C Spiders flew out the door in two hours, and in 2006, 50 BMW M6 convertibles vanished in a stunning 92 seconds. Related Video:

Will GM leave Europe? | Autoblog Podcast #504

On this week's podcast, Greg Migliore joins David Gluckman to discuss the possibility of GM selling off its Opel division to France's PSA (also known as Peugeot and Citroen). They also recap what they've all been driving lately, and the episode wraps up with Spend My Money buying advice to help you, our dear listeners. And, thankfully, no dad jokes this week. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #504 Topics and stories we mention Dodge Durango Infiniti QX30 GM's version of Brexit could mean selling Opel Used cars! Rundown Intro - 00:00 What we're driving - 01:36 GM and Opel - 25:47 Spend My Money - 39:00 Total Duration: 54:46 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Dodge GM Infiniti infiniti qx30