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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.

Nissan recalls 3.5 million vehicles over airbag sensor

Nissan is recalling 3.53 million vehicles globally – 3.2 million in the United States – because the front passenger airbag may or may not deploy properly in the event of a crash. In affected vehicles, the occupant sensing system may not properly register a person sitting in the passenger seat. Passenger-side airbags in roughly 622,000 Nissan Sentra models built between 2013 and 2016 may deploy in crashes when they shouldn't, such as when a child is in the seat. 2016-2017 Nissan Maxima, 2013-2016 Nissan Altima, NV200, and LEAF, 2013-2017 Nissan Pathfinder, 2014-2016 Nissan NV200 Taxi, Infiniti QX60 and Q50, 2014-2017 Nissan Rogue, 2015-2016 Nissan Murano, Chevrolet City Express and 2013 Infiniti JX35 vehicles suffer from the opposite problem. In those models, the airbag may not deploy when it is supposed to. Nissan is aware of at least three crashes where airbags in one of the above models did not function properly, resulting in "moderate injuries." There have already been four recalls since 2013 for similar issues in Nissan vehicles. If you own one of these cars, expect a letter from Nissan in short order (or from GM if you own a Chevy City Express). Related Video: RECALL Subject : Passenger Air Bag may not Deploy due to OCS Error , 1 INVESTIGATION(S) Report Receipt Date: APR 26, 2016 NHTSA Campaign Number: 16V244000 Component(s): AIR BAGS Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2016-2017 Nissan Maxima, 2013-2016 Nissan Altima, NV200, LEAF and Sentra, 2013-2017 Nissan Pathfinder, 2014-2016 Nissan NV200 Taxi, Infiniti QX60 and Q50, 2014-2017 Nissan Rogue, 2015-2016 Nissan Murano, Chevrolet City Express and 2013 Infiniti JX35 vehicles. In these vehicles, the front seat passenger Occupant Classification System (OCS) may incorrectly classify an adult passenger as a child or classify the seat as empty despite it being occupied. As a result, the passenger frontal air bag may be turned off and not deploy in the event of a crash. CONSEQUENCE: If the passenger frontal air bag does not deploy as intended in the event of a crash, the passenger is at an increased risk of injury. REMEDY: Nissan will notify their owners. Chevrolet City Express owners will be notified by General Motors.

The birth of a drifter, meet James Deane

Drifting is sometimes a maligned from of motorsport because it's scored by judges rather than the outcome of shedding tenths off of lap times. But that doesn't mean the people behind the wheel are lacking in skill. In a new documentary series XCar Films interviews European drift champion James Deane, and of course he also shows off his abilities with some smoky slides. Amazingly, Deane got started drifting at just 15 in a Ford Sierra, and a year later, he was already winning championships in a Nissan S14. His current competition weapon combines a Nissan chassis with a turbocharged Toyota 2JZ engine and a NASCAR four-speed gearbox. Deane reckons the setup makes around 650 horsepower. As this video shows, Deane is a master of getting the car to slide just where he wants it to be. Coupled with Xcar's consistently fantastic cinematography, there's an interesting story here of a racer stepping up the ladder of competition. Related Video: News Source: Xcar Films via YouTube Motorsports Nissan Coupe Racing Vehicles Performance Videos drifting xcar xcar films drifter