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Nissan's quarterly profit fell 68% in the last quarter

TOKYO — NissanÂ’s profit fell 68% in the last quarter as a shortage of computer chips hindered the Japanese automakerÂ’s ability to deliver vehicles to its customers. Nissan Motor Co. reported Wednesday that its profit was 17.4 billion yen ($119 million) in the July-September, down from 54 billion yen the same period a year earlier. Quarterly sales jumped to 2.5 trillion yen ($17 billion) from 1.9 trillion yen a year ago. The company's chief executive, Makoto Uchida, acknowledged the company faces various headwinds, including a chips supply crunch that has slammed the global auto industry amid lockdowns and other restrictions related to the pandemic. “But I can say our operations are definitely improving,” he told reporters. Officials apologized to all those who had to wait for their Nissan cars to be delivered because of the semiconductor shortage. On the plus side, a weak yen has helped Japanese exporters, including Nissan, by boosting the value of overseas earnings when translated into yen. But Uchida said a volatile exchange rate was more of a risk because of NissanÂ’s widespread global operations. The U.S. dollar, at about 110 yen a year ago, is now trading at nearly 150 yen. “We find a stable currency as most desirable,” said Uchida. The rising cost of raw materials, as inflation pressures spread around the world, is another challenge, according to Nissan, based in the port city of Yokohama. Uchida and other company officials declined comment on NissanÂ’s talks with alliance partner Renault SA of France. He said any decision on reshaping the alliance will be announced. NissanÂ’s brand power has been tarnished by a scandal centered around its former chairman, Carlos Ghosn, who was sent in by Renault to lead Nissan for more than two decades. Ghosn was arrested on various financial misconduct charges in 2018, including under-reporting his compensation. He jumped bail and fled in late 2019 to Lebanon, which has no extradition treaty with Japan. He says he is innocent. Nissan lowered its vehicle sales outlook for the fiscal year through March to 3.7 million vehicles from an earlier projected 4 million vehicles. Nissan sold 3.8 million vehicles in the fiscal year that ended in March. Nissan raised its annual profit forecast to 155 billion yen ($1.1 billion) from an earlier 150 billion yen ($1 billion). Nissan, which makes the Z sportscar and X-Trail sport utility vehicles, earned 215 billion yen in the last fiscal year.

Infiniti QX60 Monograph previews a handsome next-gen three-row crossover

Infiniti has pulled the sheet off its QX60 Monograph — a styling exercise meant to preview the forthcoming production replacement for its three-row crossover. Infiniti insists that while this is not the production QX60 replacement, it is close enough to not merely be labeled a "concept." Whatever Infiniti wants to call it, it's impressive. This slick design blends elements of the original Infiniti FX line with some of the luxury brand's more recent artistic direction (see: the big, fat grille) and perhaps a little dose of European flavor; we'd be lying if we said there wasn't some Jaguar F-Pace evident in that profile.  "More than a design study or concept, a 'Monograph' provides a tangible insight into how Infiniti plans to transform a future model. The QX60 Monograph previews some of the proportions and design elements that will adorn the brandÂ’s future three-row SUV, " Infiniti said in the QX60's official announcement. "We commenced the design of the Monograph knowing this was an opportune time to start a discussion about where we are planning to take the QX60 in the future," said Alfonso Albaisa, senior vice president, Global Design, Nissan Motor Co. Ltd.  "In crafting this Monograph, we wanted to change the tonality of the QX60 and transform the nameplate from a sculptural and architectural point of view. We raised the visual center of gravity, giving it a strong, straight shoulder line that carries through to the hood, with a higher, more prominent grille, and longer-looking cabin to deliver a sense of muscularity and a commanding presence," Albaisa said. Every element of the QX60 Monograph's exterior was designed deliberately to convey that image, from the heat-sink-inspired shape of the headlamps to the slick, well-integrated segments of the rear lighting signature, which blends into a single wrap-around element when not illuminated.  As close to production-ready as this QX60 Monograph might be, there are some obvious signs that there's still work yet to be done. As you'll note, there's not a single shot of this crossover's interior, and that's because it doesn't have one yet. Infiniti knows it can't afford to fumble a new launch, especially of a crossover, so we have fairly high expectations for its cabin, especially since Infiniti has been known to produce some top-notch interiors when it tries. Look for the real-deal next-generation QX60 to be shown sometime in 2021. 

Nismo smartwatch concept tracks both car and driver [w/videos]

Whether you agree or not, this writer believes that every supercar needs a wristwatch to go with it. Though the Nissan GT-R has been lacking in this one regard, Nissan is keen to correct that wrong. But while most of these automotive-inspired timepieces are decidedly mechanical, Nissan has gone a suitably different direction in creating its new Nismo watch concept.
The electronic smartwatch connects driver, car, watch and phone in a sleek design. The device allows drivers to monitor such parameters as the car's average speed and fuel consumption, access performance telematics on the track, monitor their own heart rate and interface with their smartphone via Bluetooth and a dedicated app. The watch can even tell the driver when it's time to bring his car in for scheduled maintenance, post lap times and such to popular social media platforms, and of course, you know - literally give you the time of day.
Though still in the concept phase, Nissan seems keen to bring this to market, has even gone so far as to design the packaging - made of tire rubber scraped off the track - and done it up in three colors: red, white or black. In the meantime Nismo will be showcasing the smartwatch concept at the Frankfurt show this week, where we hope to get a glimpse up close, but you can delve into the press release and the pair of videos below.