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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.

Nissan backing off IDx, BladeGlider and Infiniti Eau Rouge amid focus shift

Nissan and Infiniti are officially under the microscope after their presentations at the 2015 Detroit Auto Show focused on the new Titan pickup and Q60 Concept, but lacked any and all mention of allegedly production-bound examples of the Q50 Eau Rouge, IDx and BladeGlider EV concepts. Automotive News reports that the lack of info on the three concept cars, which had previously heralded a more performance-minded Nissan/Infiniti, has signaled a shift in priorities at the Japanese company. Instead of driver-oriented models, emphasis is seemingly being focused more on volume offerings. Nissan was subject to a pair of high-level executive departures last year, with both Andy Palmer and Johan de Nysschen departing for Aston Martin and Cadillac, respectively. Both execs were strong proponents of more driver-oriented offerings, with Palmer championing the compact, rear-drive IDx coupe and de Nysschen backing the high-performance Q50 Eau Rouge. While Palmer has been mum on his former employer's alleged move away from performance, de Nysschen made headlines last month after calling out a Nissan vice president in a Facebook post saying he "heard a rumor that Noboru Tateishi is going to cop-out and shelve the Eau Rouge project now that I'm not there to pressure him," while adding that the VP has "more enthusiasm for 'driver's aid's,' apparently, than 'driver's cars.'" AN reached out to Infiniti, with North American VP Michael Bartsch telling the publication that no decision had been reached about the Eau Rouge and that the company was more focused on rebuilding its core portfolio. Featured Gallery Nissan IDx Nismo View 34 Photos Related Gallery Infiniti Q50 Eau Rouge Concept View 24 Photos Related Gallery Nissan BladeGlider Concept View 22 Photos News Source: Automotive News - sub. req.Image Credit: Nissan, Infiniti Rumormill Infiniti Nissan Coupe Luxury Performance Sedan infiniti q50 infiniti q50 eau rouge nissan bladeglider concept

At long last, Infiniti plans a production EV

After years of false starts, it appears that Nissan's Infiniti division will finally launch a production electric car in 2019 and debut it as a concept in January at the North American International Auto Show in Detroit. Details at this point are scant, but Infiniti Executive Design Director Alfonsa Albaisa told Autocar the EV would be an all-new electric-only vehicle based on a new platform. Citing the company's grand prix-inspired Prototype 9 racecar concept that was shown a few weeks ago at Pebble Beach, Albaisa said consumers would see "parts of the car in a different context" on the concept EV. The Prototype 9's all-electric powertrain was developed by parent company Nissan's Advanced Powertrain Department. The last we saw of any electric offering from Infiniti was way back in 2012 with the LE Concept sedan, which was supposed to show up in dealerships two years later. Those plans were initially postponed in 2013 and then again in 2015 amid doubts over EV sales projections and larger concerns over boosting overall Infiniti sales. The LE had a 24 kWh lithium-ion battery pack paired with a 100 kilowatt electric motor delivering 134 horsepower and 240 pound-feet of torque. Related Video: Featured Gallery Infiniti Prototype 9 at Pebble Beach View 26 Photos Related Gallery Infiniti LE Concept: New York 2012 Green Infiniti Concept Cars Electric Pebble Beach