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Nissan reports $4.13B net income for 2012

The news for Nissan is good when it comes to the company's results for the 2012 financial year that ended on March 31. Even though the numbers were down in many of the world's major markets, increased sales in the US, Brazil and the Middle East, ten new models and a strong fourth quarter allowed Nissan to hit its target for the year and notch record sales of 4.914 million units globally. On net revenue of $116 billion, Nissan posted net income of $4.13 billion and an operating profit of $6.31 billion.
There are upward-looking projections for this year, Nissan forecasting a 7.8-percent jump in sales to 5.3 million units, with $117.89 billion in net revenue and $4.42 billion in net income. That net revenue number probably won't actually match what's reported next year, though, because Nissan is changing its accounting method and won't include revenue and operating profit results from its joint venture with China's Dongfeng. Net income doesn't change under the new method, but the adjusted net revenue forecast is $109.16 billion.
There's a press release and two videos below with more details for those of you who go gaga for annual reports.

Renault splits into 5 businesses in drive to boost profit

  PARIS — French car maker Renault announced a major overhaul that will see it separate its activities in five businesses, deepen ties with China's Geely and spin off its electric vehicles unit through a stock market listing next year. At a long-awaited investor presentation on Tuesday, Renault said it targeted operating margins of 8% for 2025 and rising to more than 10% in 2030, from 5% expected this year. It also plans to reinstate dividends from 2023 after a three-year hiatus, and generate more than 2 billion euros of cash annually between 2023-25, growing to more than 3 billion euros in the following five years. An early mover in the electric car race, Renault has fallen behind newer, more agile rivals like Tesla. After needing emergency state cash during the COVID pandemic, the group is looking to extend on a turnaround following losses in 2019 and 2020, and increase the valuation of its different parts. But big question marks remain on its strained relationship with long-standing Japanese partner Nissan, as Renault looks for other outside investors for each of its divisions. The main plank of the car maker's strategy is separating its combustion engine business — which will partner with Geely in a 50-50 joint venture, also announced on Tuesday — from its electric vehicle unit, to be listed in the second half of next year. Nissan is expected to take a stake in the EV venture, codenamed "Ampere," alongside other investors, though Renault will keep a majority stake. Talks with Nissan have been dragging on, amid Japanese reservations about sharing technology with others, including a Chinese rival like Geely, sources have told Reuters. Shares in Renault fell 2% by 1254 GMT after earlier dipping more than 4% as it gave little detail on the state of play of the discussions with Nissan on the future of their partnership. Renault CEO Luca De Meo said the group wanted to give the alliance a strong future and a "new chance." But he also said that — as in a marriage — "it is important for us to have our own hobbies and our own life." The companies had initially set a Nov. 15 target to reach a deal, but no announcement is now expected on that date, according to people familiar with the talks. Aside from the Ampere EV unit and the combustion engine division, Renault will have an additional three businesses — the Alpine sports-car brand, financial services and new mobility and recycling activities.

Nissan recalls 640k crossovers for wiring issue, hood release

The National Highway Traffic Safety Administration has announced two separate recalls affecting hundreds of thousands of Nissan crossovers. The larger of the two involves the electrical system in 2008-2013 model year Rogue CUVs. In affected vehicles, a mixture of moisture and salt seeping in through the carpet on the driver's side could cause the harness connector to short, potentially causing a fire. The issue involves Nissan Rogues manufactured between March 7, 2007, and November 26, 2013, as well as examples of the 2014 Rogue Select manufactured between September 23, 2013, and July 2, 2014. All told, that comes to an estimated 468,815 units in the United States alone. The second recall affects the relatively smaller quantity of 170,665 vehicles, made up of 2013-14 Nissan Pathfinder, 2014 Pathfinder Hybrid, 2013 Infiniti JX35, 2014 QX60 and 2014 QX60 Hybrid models. (The JX35 was recently relabeled as the QX60 under Infiniti's new nomenclature.) The issue affecting some of those vehicles revolves around a hood release cable that may not properly latch. Nissan is notifying owners of the affected units to bring their vehicles in to have the wiring checked and to replace the harness connector and seal in the former case, and to have the hood release mechanism modified in the latter. All told, an estimated 639,480 vehicles are being recalled as part of the two campaigns. RECALL Subject : Electrical Short Due to Water Seepage Report Receipt Date: JAN 26, 2015 NHTSA Campaign Number: 15V032000 Component(s): ELECTRICAL SYSTEM Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2008-2013 Nissan Rogue vehicles manufactured March 7, 2007, to November 26, 2013, and 2014 Nissan Rogue Select vehicles manufactured September 23, 2013, to July 2, 2014. The affected vehicles may experience an electrical short in the harness connector due to a mixture of snow/water and salt seeping through the carpet on the driver side floor near the harness connector. CONSEQUENCE: An electrical short can cause a vehicle fire. REMEDY: Nissan will notify owners, and dealers will inspect the kick panel wiring harness connector and will if necessary install a new harness connector and waterproof seal, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Nissan customer service at 1-800-647-7261.