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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 cribs new US boss from Porsche

Just weeks before he was supposed to become CEO of Porsche Cars Australia, Infiniti has apparently offered Porsche COO and Executive Vice President Michael Bartsch a deal he couldn't refuse. Thus, Bartsch has join the company as Vice President of Infiniti Americas, the luxury marque's top North American post. Bartsch replaces Ben Poore, who has been with the automaker since 2008, having led both a 22-percent sales surge in 2012 and the brand's current sales slough, Automotive News reports.
Bartsch, Porsche's No. 2 US executive, has held the COO and Executive Vice President positions at Porsche since 2005 and was scheduled to become CEO of Porsche's Oz division on September 1. Infiniti has experienced a number of recent personnel changes in the past week: it named Vincent Gillet, formerly an executive for Starwood Hotels & Resorts, to lead its marketing efforts worldwide and Simon Cox, a former designer for automakers including Ford and Peugeot, to head a new design studio in London.
Poore reportedly will pursue other interests outside of the auto industry. Read more about the personnel change in the press release below.

Infiniti QX Sport Inspiration Concept previewed ahead of Beijing debut

Infiniti's exterior design has been on point lately. The Q50, QX30, and especially the new Q60 Coupe are among the best looking vehicles in their respective segments. The company's designers even managed to make the homely QX60 look good. And now, those same stylists have issued their official preview of the successor to the QX50. It's called the QX Sport Inspiration Concept and will make its official debut tomorrow at the 2016 Beijing Motor Show. It's not hard to look at this stylish concept and imagine the second-generation QX50, formerly known as the EX. The proportions are just right, for one. The rear overhang is perilously short and the rear glass is raked aggressively – both work with the squat greenhouse and powerful hood to cut a sporty silhouette. The QX Sport Concept's headlights are better looking than the current model's, but still provide a menacing scowl as they flank the trademark Infniti grille. We like the large, air-curtain-style vents behind the front wheels, too; they're a more aggressive, functional take on the current QX70's side vents. The QX Sport's cabin is bisected by a high transmission tunnel, emulating the cockpit-like layout of the current model. And like in that car, this driver-focused layout demands driver-focused interfaces, like the flat-bottomed steering wheel and aggressive, single-piece bucket seats. We wouldn't count on that last item making the production shortlist, though. We'll have more on the QX Sport Inspiration Concept when it debuts tomorrow evening. Stay tuned. Related Video: