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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.

Recharge Wrap-up: Nissan e-NV200 Workspace, Audi Shared Fleet pilot in NC

Nissan has collaborated with Studio Hardie to create the e-NV200 Workspace mobile office. The one-off electric van includes a desk space, touchscreen PC, pop-up coffee machine, Wi-Fi, wireless charging, mini fridge, pull-out rear deck, and app-controlled lighting. The e-NV200 Workspace allows freedom to work to work in a variety of places while avoiding the high rent of city center office space. It also eliminates the added cost and time of traveling to work. There's even a storage mount inside the van for a folding bike to facilitate for when you want to leave the office behind. Check it out in the video above, and read more from Nissan. Audi is launching a pilot program of its on-demand Shared Fleet service in Durham, North Carolina. With Audi Shared Fleet set to debut around the country next year, the pilot program will be housed at the American Underground technology incubator in Durham for this initial trial. Users will be able to book and unlock the fleet's 2017 A4 sedans using the Audi Shared Fleet app. The program will help Audi refine the service ahead of its nationwide launch. Learn more from Audi. The Illinois Solar Energy Association (ISEA) is raffling off a Tesla Model S as part of a fundraiser. In its Green Your Ride contest, the ISEA will pick a winner from 2,500 tickets sold at $100 apiece (or four for $300). If the winner doesn't need a car, or doesn't want to pay the associated taxes and fees, they can opt instead for $60,000 cash. Second and third prize winners get a Tesla Model S for Kids by Radio Flyer, or $500. If less than 2,000 tickets are sold, the winner takes half the raffle proceeds, while the ISEA will use the rest in its mission to promote solar power. Read more at ValueWalk.

NHTSA urges owners of recalled Takata airbag vehicles to take immediate action

The National Highway Traffic Safety Administration and the Department of Transportation are taking the unusual step of issuing a followup press release urging owners of certain recalled vehicles "to act immediately" to fix their cars and trucks. The problem in question concerns the repair campaigns for rupturing Takata airbag inflators issued in June and covers a long list of models from Toyota, Lexus, Honda, Acura, Mazda, BMW, Nissan, Infiniti, Buick, Cadillac, Chevrolet, GMC, Oldsmobile and Pontiac.
While NHSTA doesn't specifically say why the recall is vital in the new release, Toyota's own explanation in its newly announced renotification campaign earlier today sheds some new light on the topic. According to the Japanese automaker, in testing, Takata found a possible link between the rupturing airbag inflators and high humidity. NHTSA is advocating that all owners pursue repairs immediately if they haven't already done so already. This is especially crucial for those drivers especially in Florida, Puerto Rico, Guam, Saipan, American Samoa, Virgin Islands and Hawaii because of the humid conditions there.
We don't need to tell you how dangerous an inadvertent airbag deployment could be - even in a stationary vehicle - but adding to the Takata issue is fears that the deployment could lead to shrapnel being sprayed into the cabin.