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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.

Weekly Recap: Automakers rethink the definition of luxury

Variety is the spice of life, but it's becoming a prerequisite for luxury carmakers in the ultra-competitive US market. The Detroit Auto Show was strong evidence of this reality. It's not enough to offer attractive and well-appointed cars and SUVs anymore. Luxury brands that want to be competitive need to invest in everything from high-powered supercars to clever hybrids. To be relevant, you need to be green and mean – and everything in between. As General Motors product chief Mark Reuss said after the reveal of the 640-horsepower Cadillac CTS-V: "We are not leaving anything on the table." He was speaking for Cadillac, but he might as well have been speaking for the luxury car market. The CTS-V debuted in Detroit about an hour after Lexus surprised showgoers with the reveal of the RC F GT3 race car and then announced ambitious plans to return to competitive racing. That almost overshadowed the fact Lexus had just revealed another potent addition to its growing F line, the 467-hp GS F. View 20 Photos But for luxury brands, it's not just about maximum horsepower for well-heeled enthusiasts or decadent amenities for the Grey Poupon set. Strong competition from all corners has forced automakers to refine and expand their lineups in ways unforeseen even a few years ago. Case in point: Mercedes-Benz finally has an answer to the BMW X6, rolling out the GLE coupe in Detroit. The X6, which blends coupe-like styling cues with some of the functionality of an SUV, debuted in 2008. Back then it was a punchline, but seven years and more than 260,000 sales later, the X6's success has compelled Benz to respond. Mercedes – one of the strongest proponents of diesel technology – also debuted the C350 plug-in hybrid sedan, which promises a range of 20 miles on electricity, though fuel economy figures were not announced. The car pairs Mercedes' well-received 208-hp turbocharged four-cylinder with an electric motor for total output of 275 hp and 443 pound-feet of torque. Meanwhile, Infiniti will add the Q30 hatchback to its lineup by the end of the year, new president Roland Kruger reiterated in Detroit. It's expected to be joined by a crossover variant, and the additions will help strengthen Infiniti in the United States and abroad. "While we're expanding our product line, we're also expanding our market reach," he said. That's something echoed by Jaguar executives, who are preparing to launch the brand's first crossover, the F-Pace, in 2016.

Infiniti QX55 spied for the first time looking sleek

The Infiniti QX55 is well on its way to joining the crossover coupe ranks in 2020, and here’s our first view of the car out testing. Infiniti is expected to debut the ‘ute in the first half of 2020, so it wonÂ’t be long till we see it without the swirls and body cladding on it, too. As the name suggests, the QX55 is a derivative of the QX50 crossover, which was just completely redesigned for the 2019 model year. Infiniti debuted its new VC-Turbo (variable compression) engine technology in that crossover, and itÂ’ll certainly be along for the ride in the QX55 as well. The latest teaser suggested that Infiniti would be greatly differentiating this crossover coupe to the rest of the field by giving it a uniquely long tail for more cargo space. That tail still exists on the vehicle caught out testing, but it doesnÂ’t look drastically different than other vehicles of its ilk. To that end, rear cargo space is likely to be slightly down from the more traditionally shaped QX50, even if itÂ’s slightly better than competitors. However, rear seat space appears to be better than expected. The roof itself doesnÂ’t taper at a horribly steep angle into the rear passengerÂ’s heads, and the rear windows are large enough that they may only cause minor claustrophobia. Most of everything except for the rear end will likely resemble the QX50 verbatim, so itÂ’s just the back half that weÂ’re waiting for in the reveal. The grille itself has the same waveform shape as the normal QX50, and the body creases in the hood and doors protruding through the skin-tight camo resemble it as well. Even the wheels on this tester are exactly the same design as the rollers used on the production QX50. When it does come out, the QX55 will join its German competition in this stylish but utility-hampered segment. The BMW X4 and Mercedes-Benz GLC Coupe will be the main targets when we expect this car to hit dealer lots later this year. Related Video: