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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.

2015 Italian Grand Prix is smoke, mirrors, stalls, and stewards

For the first day-and-a-half of the Italian Formula One Grand Prix weekend, everything went to blueprint: Mercedes in front, Ferrari lurking, everyone else scrambling in their usual orders behind. Then qualifying came, and someone stirred the pot. About the only thing we expected was for Lewis Hamilton to put his Mercedes-AMG Petronas on pole position, the 11th time he's done it this year. He did it with a brand-new specification engine, one that represents not only an evolution in components, but also in power unit philosophy. Kimi Raikkonen lines up in second. It's been a long time since we read those words; the Iceman hasn't been on the first row since the 2013 Chinese Grand Prix, when he put his Lotus second on the grid behind... Lewis Hamilton. Raikkonen lined up just ahead of a Ferrari at that China race, then driven by Fernando Alonso. In Italy this weekend, he lined up in front of the Ferrari driven by his teammate, Sebastian Vettel, who qualified third. Both Ferraris benefitted from an upgraded power unit, ending a front-row drought for the scuderia that goes all the way back to Monaco in 2009 Germany in 2012. Nico Rosberg has a lot of work to do from fourth in the second Mercedes-AMG Petronas. Mercedes discovered a problem with Rosberg's engine but couldn't figure out the cause, so he reverted to the previous-spec engine he used in Belgium, one that's six races old. The lack of power hurt. Williams teammates Felipe Massa and Valtteri Bottas took fifth and sixth, with Massa seemingly given a team-ordered helping hand. Williams told Bottas to tow Massa down the front straight, giving Massa a blistering time in the first sector. Then Bottas did it again, ensuring he would line up behind Massa. The first Sahara Force India of Sergio Perez nabbed seventh, three places ahead of teammate Nico Hulkenberg in tenth, with Romain Grosjean in the Lotus behind Perez in eighth. Marcus Ericsson in the Sauber qualified ninth, but some clumsy driving saw him impede Hulkenberg twice. The stewards penalized Ericsson with a three-place grid penalty and two points on his superlicense, so Hulkenberg inherited ninth and Pastor Maldonado in the second Lotus inherited tenth. We hardly saw Hamilton during the race, because he led from the start, worked up a larger gap to second place on every lap, and didn't give up the lead for the whole event.

2023 Infiniti QX80 gets higher base price and Amazon Alexa compatibility

Infiniti has released pricing information for the 2023 QX80, its biggest and most expensive SUV. The body-on-frame family hauler costs more than during the previous model year, but it gains a handful of additional tech features and the Infiniti Premium Care maintenance plan. Offered in three trim levels, the 2023 QX80 carries a base price of $74,395 including a $1,695 destination charge. That figure corresponds to the rear-wheel-drive Luxe model, but "entry-level" is a relative term: it comes standard with 20-inch wheels, a 13-speaker Bose sound system, leather upholstery and wood interior trim. For context, the 2022 QX80 Luxe cost $71,995 including a $1,395 destination charge. Pricing for the full range is as follows: QX80 Luxe rear-wheel-drive: $74,395 ($2,400 more than in 2022) QX80 Luxe four-wheel-drive: $77,495 ($2,400 more than in 2022) QX80 Premium Select rear-wheel-drive: $78,995 ($2,215 more than in 2022) QX80 Premium Select four-wheel-drive: $82,095 ($2,215 more than in 2022) QX80 Sensory rear-wheel-drive: $86,045 ($2,415 more than in 2022) QX80 Sensory four-wheel-drive: $89,145 ($2,415 more than in 2022) While prices are up across the board, which is par for the course, Infiniti expanded the QX80's list of standard features with Amazon Alexa compatibility and a haptic feedback function in the steering wheel for the lane departure warning system. And, like every member of the 2023 range, the QX80 comes with the Infiniti Premium Care plan that includes up to three years of inspections, oil changes, and tire rotations. Built in Japan, the 2023 Infiniti QX80 will reach dealers across the nation in the coming weeks. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.