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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.

Driving the Maserati MC20 and BMW i7 | Autoblog Podcast #802

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Road Test Editor Zac Palmer. They're amped up about the BMW i7 and Maserati MC 20 they've all been driving. They also opine about the BMW M3 CS and 2024 Ford Mustang. The Japan Mobility Show (formerly Tokyo Motor Show) is coming up, and there have been some interesting reveals and teasers, including the Nissan Hyper Urban and Hyper Adventure concepts, some neat kei car concepts from Daihatsu, a Miata-inspired EV concept from Mazda and an electric sports coupe concept from Subaru. Finally, they discuss the wild situation surround last weekend's Formula 1 Qatar Grand Prix. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #802 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 BMW i7 2023 Maserati MC20 2024 BMW M3 CS 2024 Ford Mustang GT Japan Mobility Show preview Nissan Hyper Urban and Hyper Adventure concepts Daihatsu kei car concepts Possible next-gen Mazda Miata Subaru electric sports car Formula 1 Qatar Grand Prix recap Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Motorsports Podcasts Tokyo Motor Show BMW Ford Maserati Mazda Nissan Subaru

Nissan has now sold 75,000 Leaf EVs in the US

Somehow it doesn't surprise us that the 75,000th Nissan Leaf electric vehicle sold in the US would go to a guy from Portland, Oregon. Rishabh Mehandru, who first experienced the Leaf through a lease a couple of years ago, took the full plunge with a 2015 model and ended up being No. 75,000 (ding, ding, ding!). You've got to love those repeat customers. The Intel engineer has a 30-mile commute, so, theoretically, the Leaf does the trip with about two-dozen miles to spare in its single-charge range. The Portland dealership that sold him the car says its Leaf customers are an "even" mix between new and repeat. Nationwide, Nissan boosted its Leaf sales last year by 34 percent to 30,200. Things have cooled off a bit so far this year, as Leaf sales through February were down 15 percent from the same period in 2014 to 2,268 units. As of the end of last month, Nissan Leaf's US sales since its late-2010 introduction trailed sales of the Chevrolet Volt extended-range plug-in by exactly two units. Which means we can expect General Motors' announcement that the Volt has hit 75,000 units any day now. Take a look at Nissan's press release below. Related Videos: Nissan delivers 75,000th all-electric LEAF in the U.S. to Oregon family NASHVILLE, Tenn. – Nissan celebrated with Rishabh Mehandru of Portland, Oregon, as he purchased the 75,000th Nissan LEAF in the United States. This is Mehandru's second Nissan LEAF after leasing his first one two years ago in an effort to reduce the emissions he was putting into the air. "I'm a runner, and when I ran outside I found that I was inhaling a lot of exhaust from the gas-powered cars that passed me on the roads," said Mehandru. "I instantly became aware of the amount of fuel I was burning, and that's when I first decided that I wanted to get an electric car." Mehandru, senior engineer at Intel, has a commute of about 30 miles and enjoys the spirited driving experience Nissan LEAF has to offer. "When the lease was up on my first Nissan LEAF, I knew that I didn't want any other car. I had to have another Nissan LEAF," said Mehandru. "I love how quickly I can get up to speed on the highway-even my three-year-old son notices how zippy it is-and I like that I don't have to stop for gas." Mehandru's excitement for his electric car is contagious, and he recently convinced a friend to also purchase a Nissan LEAF.