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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.

Recharge Wrap-up: Infiniti PHEV, free biodiesel?

In certain cases, biodiesel is so inexpensive that it is essentially free to use. Thanks to the decline of crude oil prices, other fuels, including biodiesel, have been following the trend. After setting new renewable fuel mandates, Congress also reinstated a $1-per-gallon tax credit for refiners. With such low prices, Midwest refiners are paying as low as $0.645 per gallon. In California, however, additional incentives mean some customers could get money back on the biodiesel they use, depending on the deals between producers and blenders and whether or not they share the credits. Read more from Ag Web. Infiniti is considering adding plug-in hybrid technology to its vehicle lineup. Infiniti CEO Roland Krueger says that it will leverage the EV expertise from Nissan for the electrification of its cars. Don't hold out for a luxury version of the Leaf wearing an Infiniti badge, though. When asked if an all-electric Infiniti were out of the questions, Krueger says, "Performance and the range are very important in the premium segment, so we believe that for Infiniti a hybrid or plug-in hybrid is the right proposition at this time." Read more from Automotive News Europe. Hyundai Tucson Fuel Cell drivers in California have logged a cumulative 1 million miles. With nearly 100 Tucson Fuel Cells sold so far in Southern California, these drivers have prevented some 385 tons of CO2 emissions. "Breaking the seven-figure consumer mileage barrier gives us new vision into the unlimited zero-emissions potential for Hyundai's fuel cell vehicles," says Hyundai's Mike O'Brien. "With our growing fleet of hydrogen-powered Tucson fuel cell vehicles accumulating one million miles this quickly, one can only imagine the unlimited potential for a zero-emissions hydrogen vehicle future." Read more in the press release below. Hyundai Tucson Fuel Cell Drivers Accumulate More Than One Million Zero-Emission Miles Cumulative Zero-emissions Miles by Southern California Fuel Cell Drivers Breaches the Seven-Figure Mileage Barrier Fuel Cell clean H2O emissions effectively replaced approximately 385 Tons of CO2 emissions compared with gasoline vehicles of similar size FOUNTAIN VALLEY, Calif., Feb.

Nissan bringing Infiniti brand to Japanese market

Ever hear that the best stuff is saved for export? Just ask Japanese luxury car buyers. It's been decades since Japan's largest automakers set out to take on Europe's finest with dedicated luxury brands of their own, but they have kept those brands largely out of their own domestic market and sold them almost exclusively overseas. But that's beginning to change.
In 2005 Toyota launched the Lexus brand - which it had been exporting since 1989 - in Japan. Honda reportedly planned on bringing its Acura brand to its home market just a few years later, but ended up delaying the move. Now Nissan is reportedly preparing to launch the Infiniti lineup in its own backyard.
This according to a report published in the Japanese business daily Nikkei and now making the rounds of the English-language press. The plan apparently involves offering at least part of the Infiniti model line in domestic Nissan dealers, holding off for the time being on launching a separate dealer network in Japan.