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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, Kia spending big to promote EVs, Chevy stays conservative on Volt

With 22 months of record Leaf sales under its zero-emission belt, Nissan has started two big ad campaigns for the battery-powered Leaf. On TV, there's the Kick Gas campaign (it's a popular name) and on social media, Nissan is promoting the EV as the "world's cleanest car" (it's a paint thing). We don't know how much the paint prank is costing, but we do have some estimated numbers for the TV ads. Nissan has spent over $30 million on TV advertising for the Leaf in 2014. According to iSpot, which tracks these sorts of things, Nissan spent over $30 million promoting the Leaf on TV in 2014. "Through November of this year," iSpot CEO Sean Muller wrote to AutoblogGreen, "Nissan spent more then $400 million in TV advertising for its traditional fuel fleet, and $22 million for the rechargeable Leaf. It has since dedicated an additional $9 million on it its new Kick Gas campaign, which started airing November 3, shortly after news of the electronic sales slump broke." iSpot says that Kick Gas aired predominately on NBC, CBS and Fox. The result of those airings can be seen in the charts below, but the takeaway point is that viewers of college football, Gladiator and The Rachel Maddow Show were the most engaged by the ad. Nissan has said the ad is working and that it helped increase Leaf sales in November. How is Chevrolet promoting the Volt? Not nearly as aggressively as Nissan is with the Leaf. Muller said iSpot estimates that GM spent just $2 million over the past couple of years to sell the plug-in hybrid on TV, despite offering 62 different Volt ads online. Then there's new entry into the mix, the Kia Soul EV. iSpot figures Kia has spent about $15 million on TV airings of that odd sexified hamster spot. That's a lot of money for a car that just went on sale here in October, let alone one that isn't available in most states. We've asked Chevy, Kia and Nissan for comment on the iSpot numbers but have not yet heard back. You can watch ads for all three vehicles below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Details on Nissan's Kick Gas:

Nissan NV200 taxi goes on sale in NYC while mandate still being figured out

Cab drivers in New York City may not be mandated to purchase the Nissan NV200 "Taxi of Tomorrow" per the orders of a Supreme Court Judge, but that isn't stopping Nissan from beginning sales of the bright yellow people movers.
Speaking to Automotive News, Howard Koeppel, a Queens-based dealer said, "We just got them about three days ago, and we've sold five to individual operators. They're good cars." A fully loaded example of the Mexican-built taxi is priced at $29,700, and are due to officially begin service on October 28.
The NV is meant to be the go-to vehicle for NYC cabbies, mandated by the Taxi and Limousine Commission, although the process of switching over the city's 15,000 cabs has been ensnarled by legal proceedings virtually since the word "go."