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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.

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New engine and ProPilot technologies in a sleek package

2016 Infiniti QX50 is new and improved, kind of [w/video]

The Infiniti QX50 is, to be frank, ancient. It hit the market way back in 2007, and has labored on ever since. Through December of last year, the company only moved 2,727 QX50s. The year before, there were only 2,164 sales, and 3,495 in 2012. What do all three years have in common? The QX50 was Infiniti's slowest seller in each of them. Here's hoping, then, that this latest update will boost the 2+2 crossover's appeal. Being shown today at the 2015 New York International Auto Show, Infiniti has made a number of updates to its smallest crossover, with the most notable being a 3.2-inch stretch in its wheelbase and a 4.5-inch increase in its overall length. That makes for an enormous 4.3-inch increase in the legroom of the formerly cramped second row. Infiniti also made slight increases to the overall ride height, of 0.4 inches in for rear-drivers and 0.8 inches for all-wheel-drive variants. Outside of the dimensional changes, Infiniti also beefed up the former EX37's exterior, with new front and rear bumpers that boast SUV-like scuff plating, as well as LED accents in the new headlights and a new grille that is more in keeping with the brand's current design language. LED taillights sit out back as standard, while Infiniti will happily sell consumers an optional xenon headlight package. Infiniti may have updated the exterior, but the cabin looks largely unchanged, aside from the extra space in the second row. It looks like a complete carryover in terms of features, trim and general layout. Also unchanged is the QX50's 3.7-liter V6 engine. Output remains fixed at 325 ponies and 267 pound-feet of torque. Regardless of whether power goes to the rear or to all four wheels, a seven-speed automatic is in charge of managing the power. We'll have more on the freshened QX50, including live images, coming soon from the floor of the 2015 New York Auto Show.