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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.

Cadillac snags de Nysschen from Infiniti, names him new president

Johan de Nysschen, the (now former) president of Infiniti, has officially jumped ship. The 54-year-old, who also spent time as the chief executive for Audi USA, has taken the position of president at Cadillac, following a two-year stint at the Nissan-owned luxury brand. In his new role, the 54-year-old will be responsible "for all aspects of Cadillac globally," according to a statement from General Motors.
"Johan brings to our company vast experience in the development and proper execution of luxury automotive brands," said GM President Dan Ammann, de Nysschen's new boss. "With over 20 years in this exact space, especially in the development of the Audi brand, his track record proves he is the perfect executive to lead Cadillac for the long term."
"I have for some time now been impressed by how the new General Motors has been transformed into a formidable force in the industry," de Nysschen said in a statement. "The combination of strong corporate leadership and exceptional engineering resources presents the perfect combination to restore Cadillac to its place among global premium brands."

2024 Infiniti Q50 prices up $475, start at $44,200

The Infiniti Q50, like some small geologic formation, carries its graceful, aged sculpture into 2024 fearless and unchanged. Whereas in 2023 Infiniti added a new interior color, included Infiniti Premium Care, and increased prices, 2024 only sees higher prices. MSRPs are up $400 and the destination charge rises $75 to $1,150, for an additional premium of $475. Starting sums including destination are:  Q50 Luxe: $44,200  Q50 Sensory: $49,900 Q50 Red Sport 400: $58,050  Every Q50 is powered by a twin-turbo 3.0-liter V6, the Luxe and Sensory trims making 300 horsepower and 295 pound-feet of torque, the Red Sport 400 making the eponymous 400 hp and 350 lb-ft. As standard, all send their power to the rear axle through a seven-speed automatic. Sending power to the front axle adds $2,000.  The Black Opal Edition Package that we expected to be of limited supply returns for 2024. Its black opal iridescent paint job shifts from black to blue to green to purple depending on the light and viewing angle. The paint is matched with satin black badging and an exposed carbon fiber trunk spoiler, adding $2,200 to the price of the sole trim it's available on, the Q50 Red Sport 400. The package traces its lineage to the legendary iridescent Midnight Purple II, a color introduced on the R34 Nissan Skyline GT-R in 1998, and counts recent reboots elsewhere in the Nissan range with the 2014 GT-R with a Midnight Opal paint job and the 2022 GT-R T-spec in Midnight Purple.    It's understandable that a brand built on premium and sporty offerings doesn't want to give up its last unabashedly sporty offering, but this seems like a natural time to again wonder what is the endgame for the Q50, the final car in Infiniti's U.S. lineup. Automotive News reported over the summer that Infiniti showed its U.S. dealers a fastback sedan called a "striking evolution" of the Q70 boasting a longer wheelbase and shorter overhangs, a full-width headlight and taillight, and a "sporty and Porsche-like" rear end. That's anticipated in 2026. Maybe then the Q50 will be allowed to go off somewhere and rest.