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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.

Infiniti bringing Q50 Eau Rouge to Geneva, now with engine [w/video]

During last month's Detroit Auto Show, Infiniti rolled out the lustrous Q50 Moulin Eau Rouge concept - a preview of what could be a solid performance offering from Nissan's luxury arm. Problem is, the car shown in Detroit was all show and no go - literally.
Infiniti was keen to talk about how the Eau Rouge would feature "a big personality, V-cylinder engine with forced induction" with "over 500 horsepower and 600 pound-feet of torque," but the showcar had no such powerplant underhood. In fact, it didn't have any powerplant under the hood at all. That'll change next month, however, as Infiniti has now confirmed that it will bring the Q50 Eau Rouge to the Geneva Motor Show in March, complete with the promised "big personality" engine.
"Our engineers have perfectly captured the tone of Infiniti's take on premium performance, and a car that is as impressive as the Q50 Eau Rouge sounds is surely a car to challenge performance cars in the premium sector," said Infiniti's President, Johan de Nysschen. Regarding that sound: he ain't foolin' - the automaker has released a teaser video that gives us our first listen at what the Q50 Eau Rouge will sound like once its powerplant is nestled underhood. Scroll down to give it a watch - err, listen - and have a look beyond that for the company's official press blast.

Infiniti Q60 dies at year's end

In 2021, Automotive News' Future Product Pipeline coverage for the Infiniti brand contained a single entry for 2023: "Infiniti Q60 ends in 2023." Turns out the report of the Q60's death was true; the brand confirmed to Car and Driver that the coupe ends production at the end of this year. We wish we were surprised at the news or the rationale. An automaker spokesperson told the magazine, "We are focusing on the most popular luxury automotive segments such as crossovers and SUVs, as well as the upcoming EV we recently announced that will be built here in the U.S." The official justification didn't address the fact that dealers sold 2,728 units of the Q60 in the U.S. last year, 64 units fewer than achieved in 2020, and 2,315 units fewer than dealers moved in 2019 — the year Q60 sales fell off a cliff after selling more than 9,000 units in 2018. Consider this another step in the "three-phase company transformation" that Chairman Peyman Kargar is in the second stage of working through. The first phase of recovery ended this March, the luxury automaker getting back to profit globally. The current second stage that will revamp, electrify, and expand the lineup is predicted to last for the next four years. The spearhead will be the new QX80 SUV, planned for late next year or early 2024 with ambitions to challenge the Cadillac Escalade, Lexus LX, and Range Rover. That luxury club barred Infiniti from entry awhile ago, so Kargar's talking about profound turnaround. As for the Q60, the shame is that a car with sweet looks and even sweeter power never got the interior or driving dynamics to match. Perhaps the return of a much better Nissan Z can provide fodder for a proper Infiniti coupe once the luxury division has restored its momentum. The spokesperson told Car and Driver that Q60 inventory should last until well into 2023, so anyone looking for a 400-horsepower bargain with a six-speed manual should mark their calendar for early next spring.   Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.