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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 QX70 is fini, for now

We knew it first as the FX, debuting in 2003 as a bulgingly macho SUV/crossover thing with an impossibly long hood. It was quick and powerful, and lower-slung than typical SUVs, more like a tall wagon. Infiniti later dialed the cartoonishness of it back a few notches and started calling it the QX70. Now, the QX70 is going to take a little break, disappearing from the lineup for a few years while QX50 and QX80 redesigns are rolled out. The QX70 is sporty, with a 325-horsepower 3.7-liter V6. But it's an aging model and a bit of a slow seller - last year, Infiniti moved one-seventh as many QX70s as it did its kid-hauling cousin the QX60 - which seats more people (seven, to the QX70's five) and is less expensive. The QX70 was once popular like that, selling 30,964 as the FX in 2004. But that was long, long ago. Last year it sold 6,261. The QX70 nameplate is expected to be back in 2021 or 2022, in a redesign based on the Nissan Murano and built at Nissan's plant in Canton, Miss. Related Video: Featured Gallery 2015 Infiniti QX70 Plants/Manufacturing Infiniti Crossover SUV redesign

A beautiful conundrum | 2017 Infiniti Q60 First Drive

"OK, this should be fun." Hands are rubbed together excitedly. It's a rear-wheel-drive sport coupe painted candy apple red. It's sleek, slinky, and uniquely styled. It's from the same folks who, in the 2000s, finally showed that BMW could be matched in the whole sport sedan/coupe game. Oh, and it has 400 horsepower. Four-hundred! With a four. And yet the 2017 Infiniti Q60 underwhelms. What looks so good on paper instead is rather conflicted, stuck somewhere in no-man's land between the traditional expectations of a performance sport coupe and those of comfier, more luxurious cruisers that isolate and pamper their occupants. It's a serious effort with serious engineering and a clear desire to be innovative, but at least in the range-topping Red Sport model we tested, it fails to come together in a way that truly excites or indulges. A great coupe should do one or the other, and ideally both. To explain, let's start under the hood, where Infiniti's all-new "VR" series 3.0-liter twin-turbo V6 makes its second appearance after debuting in the Q60's four-door sibling, the Q50. In the Q60 Silver Sport model, it produces 300 horsepower and 295 pound-feet of torque courtesy a pair of turbochargers that create 8.7 psi of boost. In the Red Sport, the knob is turned up to 14.7 psi, resulting in the oh-so-salivatory magic number of 400 hp along with 350 lb-ft of torque. A device known as an optical turbo speed sensor, special to the Red Sport, manages and maintains that extra boost, while an electric motor fitted to the valve timing system serves to quell any loss in throttle response due to forced induction. The Red also gets a second water-cooled intercooler, which, in both models, is distinctive for its more compact size, shorter airflow path, and, according to Infiniti, a resulting reduction in turbo lag and more immediate engine response. It's certainly a clear improvement on the somewhat rough 3.7-liter "VQ" V6 it replaces, which increasingly felt and sounded a little out of place in a luxury car. The new VR30DDTT, as it's so eloquently named, is buttery smooth and indeed responsive, likely capable of convincing luxury-car owners used to naturally aspirated V6s that everything's business as usual. Honestly, its character is reminiscent of a silky Honda V6. In some respects, that's a great thing. In others, it's where the Q60 starts to fall flat.