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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.

2022 Infiniti QX80 Interior Review | Refreshed, but still behind

You might assume the 2022 Infiniti QX80’s interior is filled with outdated technology from when it launched here about 10 years ago, but thatÂ’s not entirely true. You see, despite the rest of the car carrying over from the previous model year, the 2022 model year QX80 enjoys a refreshed interior. While this interior is updated, thereÂ’s no need to get overly excited. Nissan put the Armada through a mid-cycle refresh last year, and the QX80 essentially cribs all of its new bits directly from the Nissan. WeÂ’ve already tested the Armada, so we had an idea about what to expect when the refreshed QX80 landed at our doorstep. Thankfully, for InfinitiÂ’s sake, the ArmadaÂ’s new interior is nice enough that it's largely acceptable in the more luxurious QX80. It features a new, high-res touchscreen, flashy plastics, a simple layout and vital tech like a wireless phone charger, USB-C port and wireless Apple CarPlay — unfortunately, Android Auto remains a wired-only affair. The new look of this tall and vast center stack doesnÂ’t jive perfectly with the QX80Â’s flowy, rounded interior design, but thatÂ’s what you get when part of the interior is updated and the rest is left to carryover. Straight, strong lines dominate the center stack, complemented by rectangular vents. Meanwhile, rounded wood trim flows out of this brutalist center stack in a jarring manner that makes the interior look like two different designers worked on it separately, then had their work combined.  Functionally, the new parts of the interior are just fine. The new single touchscreen and its supporting user interface is a welcome update over the old dual-screen infotainment system that's still found in other Infinitis (it had only just received that system for 2020). Its large, width-oriented and mounted higher for easy viewing, plus the presence of supporting physical knobs and buttons make vital controls easy to use and adjust. The odd storage compartment in the dash houses the wireless phone charger, and the 12V outlet is hidden in there alongside it. We enjoyed the presence of a wireless phone charger, but it didnÂ’t charge our phones quickly, and the phoneÂ’s movement on the mat would sometimes cause it to stop charging altogether. Surprisingly, the QX80 is fitted with a camera rearview mirror, which was a nice surprise to see.

Nissan Recalls More Than One Million Vehicles For Air Bags

Nissan is recalling just over one million cars, SUVs and vans because the front passenger air bags may not inflate in a crash. It's the company's second recall to fix the same problem. The recall affects the Altima midsize car, Leaf electric car, Pathfinder SUV and Sentra compact models from the 2013 and 2014 model years, as well as the NV200 Taxi van and Infiniti JX35 SUV from 2013. Also covered are the Infiniti QX60 and Q50 SUVs from 2014. In documents filed with the National Highway Traffic Safety Administration, Nissan says the vehicles' computer software may not detect an adult in the passenger seat. If that happens, the air bags won't inflate. Nissan will notify owners and dealers will update the software for free. The recall is expected to start in mid-April. Most of the vehicles were recalled in February of last year for a similar problem. Dealers replaced seat sensors, but Nissan said it continued to get consumer complaints and warranty claims in vehicles that had been repaired. Front passenger seats have sensors that determine the passenger's weight and turn off air bags off if a child is on board. The malfunctioning sensors can turn the air bags off even if an adult is in the seat. Nissan received three reports of air bags failing to inflate in a crash. Spokesman Steve Yeager said in an e-mail that he is not sure if anyone was hurt in those incidents. There have been no deaths due to the problem, he said. The recall affects almost 990,000 vehicles in the U.S., another 60,000 in Canada and small numbers in other countries, Yeager said. Related Gallery Nissan Searches For Identity In America