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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 says Leaf battery packs are nearly bulletproof

Like the old 1970s Schoolhouse Rock song (and an early-90s remake from hip-hop artists De La Soul), three, indeed, is the magic number. That's how many Nissan Leaf batteries have conked out in Europe during the past four-plus years. Out of about 35,000. I'd hate to be a member of that unlucky trio. The Japanese automaker says it has shut up the naysayers who once crowed that electric motors may be less reliable than gas- or diesel-powered engines. Nissan has done so by maintaining a 99.99 percent "battery success rate" in Europe. With only an on-board charger, inverter and motor, the Leaf's electric motor costs 40 percent less to maintain that gas- or diesel-powered engines. Nissan does seem to be getting more converts across the Pond. Nissan boosted European sales of the Leaf by about 33 percent last year to more than 15,000 units. Meanwhile, here in the States, sales jumped 34 percent last year to more than 30,000 vehicles, though early 2015 sales appear to be down as lower gas prices are leading American car shoppers to larger, more gas-swilling vehicles. Still, Nissan recently said it surpassed sales of 75,000 units in the US and we expect the March sales numbers to show that the Leaf has become the top-selling plug-in vehicle in US history. Take a look at Nissan Europe's press release below. Related Videos: Nissan LEAF battery reliably outperforms cynics, critics and alternatives Five years on, Nissan reports 99.99% battery success rate across Europe More reliable than a petrol or diesel engine, according to industry averages Nissan LEAF is the world's best-selling all-electric car, with over 165,000 sold globally Rolle, Switzerland, 23 March 2015: Five years and more than 35,000 European sales since the launch of its all-electric LEAF, proprietary data released by Nissan for the first time shows that 99.99 percent of its battery units remain entirely fit for purpose. The failure rate of the battery power unit is less than 0.01 percent - or just three units in total - a fraction of the equivalent industry-wide? figure for defects affecting traditional combustion engines. To prove the long-term reliability of the battery technology, Nissan tracked down a rather infamous early model, whose owner is still enjoying fault-free motoring in her LEAF three years on: http://youtu.be/6V1bJJwJhEg Electric vehicle advocate and presenter of online TV channel Fully Charged, Robert Llewellyn commented: "This comes as no surprise.

World's Strongest Man champion pulls a dozen Nissan Note hatchbacks to set record

On December 1, Zydrunas Savickas, a five-time World's Strongest Man champion, pulled 12 Nissan Notes (the equivalent to our Versa Note) weighing 28,530 pounds over 16.4 feet in 32.9 seconds. The feat, performed in Lithuania at the end of the country's Car of the Year test camp, was enough to secure him the Guinness world record for "Most Cars Pulled By One Man."
"Once I got into my stride pulling the 12 Nissan Notes, [it] was fine," Savickas said after the pull. "Obviously, a big thank you to Nissan for helping me set the record and making it all happen."
"We at Nissan like setting records and are always aiming high," said Taina Erkkilä, Communication Director of Nissan Nordic Europe. "Today we are delighted to have been able to help Zydrunas set another world record and see so many people turn out to support him."