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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.

2023 Infiniti QX60 Review: Now worth checking out

Pros: Well-equipped; handsome interior; sharp exterior styling; solid towing capacity Cons: No hybrid option; cramped third row; there are better three-rows for the price The 2023 Infiniti QX60 is relevant and worth considering for the first time in a long while. It’s based on the proficient Nissan Pathfinder, and Infiniti brings a lot of good to the table with this three-row SUV. The design is immediately eye-catching, as the curvaceous body panels blend and wrap around this rear, giving it a very sleek and attractive profile. Plus, its beauty isnÂ’t just skin deep. Infiniti ditched the old modelÂ’s frustrating CVT for a nine-speed automatic transmission, and the result is a driving experience that better matches its luxury car badge. It would be nice if there was more than just the standard 3.5-liter V6 available — such as a hybrid or PHEV — but the single engine is at least a competent one with enough power for above-average towing capacity. Despite the QX60 being a perfectly competitive SUV these days, donÂ’t think that itÂ’s now a class leader. Other options in the luxury space such as the Acura MDX, Lincoln Aviator and Volvo XC90 would find their way into our garages before the QX60. Even non-luxury-branded alternatives such as the Jeep Grand Cherokee L or Hyundai Palisade/Kia Telluride in their top trims compete strongly against the QX60. The base models offer a plethora of standard equipment that many luxury manufacturers donÂ’t offer, so the best play Infiniti has to offer is in value. That said, if you want every luxury in the book, the top-trim Autograph delivers with gorgeous interior appointments and a high-tech cabin. ItÂ’s still tough to recommend the QX60 over others in this segment, though, as the over-$50,000 starting price puts it squarely in the sights of our favorite three-row vehicles. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Features   |   Crash Ratings & Safety Features What's new for 2023? The QX60 was all-new last year, but Infiniti has a few updates for 2023. The wireless charging pad is now standard across all trims. A frameless rearview mirror is added, and the lower bumper accents are updated with new colors. Lastly, all QX60s will now have "Infiniti Premium Care" as standard, which includes three years of free inspections, oil changes and tire rotations.

Consumer Reports no longer recommends Honda Civic

Consumer Reports annual Car Reliability Survey is out, and yes, there are some big surprises. First and foremost? The venerable publication no longer recommends the Honda Civic. In fact, aside from the walking-dead CR-Z and limited-release Clarity fuel-cell car, the Civic is the only Honda to miss out on CR's prestigious nod. At the opposite end there's a surprise as well – Toyota and Lexus remain the most reliable brands on the market, but Buick cracked the top three. That's up from seventh last year, and the first time for an American brand to stand on the Consumer Reports podium. Mazda's entire lineup earned Recommended checks as well. Consumer Reports dinged the Civic for its "infuriating" touch-screen radio, lack of driver lumbar adjustability, the limited selection of cars on dealer lots fitted with Honda's popular Sensing system, and the company's decision to offer LaneWatch instead of a full-tilt blind-spot monitoring system. Its score? A lowly 58. The Civic isn't the only surprise drop from CR's Recommended ranks. The Audi A3, Ford F-150, Subaru WRX/STI, and Volkswagen Jetta, GTI, and Passat all lost the Consumer Reports' checkmark. On the flipside, a number of popular vehicles graduated to the Recommended ranks, including the BMW X5, Chevrolet Camaro, Corvette, and Cruze, Hyundai Santa Fe, Porsche Macan, and Tesla Model S. Perhaps the biggest surprise is the hilariously recall-prone Ford Escape getting a Recommended check – considering the popularity of Ford's small crossover, this is likely a coup for the brand, as it puts the Escape on a level playing field with the Recommended Toyota RAV4, Honda CR-V, and Nissan Rogue. While Ford is probably happy to see CR promote the Escape, the list wasn't as kind for every brand. For example, of the entire Fiat Chrysler Automobiles catalog, the ancient Chrysler 300 was the only car to score a check – there wasn't a single Dodge, Fiat, Jeep, Maserati, or Ram on the list. That hurts. FCA isn't alone at the low end, either. GMC, Jaguar Land Rover, Mini, and Mitsubishi don't have a vehicle on CR's list between them, while brands like Mercedes-Benz, Volvo, Nissan, Lincoln, Infiniti, and Cadillac only have a few models each. You can check out Consumer Reports entire reliability roundup, even without a subscription, here.