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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 Sway displays the future of the compact hatch [w/videos]

Nissan is giving a glimpse at its future compact hatchback design with the Sway Concept at the 2015 Geneva Motor Show. The little, egg-shaped hatchback cribs styling elements from earlier show cars from the brand and mixes them together into an attractive five-door. Though, the company makes no mention of the model's powertrain. The Sway's most eye-arresting feature is its arching hood that leads to a deep, V-shaped grille similar to the Lannia Concept. The design element is flanked on both sides by boomerang-shaped LED headlights, and there's a splash of color from the orange accents under the air intakes. To draw the eye from front to rear, a crease flows over the fenders and then sweeps all the way back to the taillights. Nissan's floating roof motif also makes an appearance here, although it's not quite as obvious as on larger vehicles. As is common on show cars, the Sway has suicide doors with no B-pillar to let attendees in Switzerland have a good look inside. The interior appears to be an airy place to take a drive with a panoramic glass roof, and a windshield that rises up over the front occupants' heads. The driver gets a simple instrument cluster that's dominated by just two gauges, but there's a tablet at the center of the dashboard to provide extra info. According to Nissan, the whole point of the Sway's design is to take compact hatchback styling in a bolder direction. The first video below shows off even more angles, and the second has some of the brand's designers going in depth about the car's shape. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan rethinks the compact hatchback: Introducing the Sway Concept Bold design theme showcases new design language Edgy exterior matched by elegantly simple interior Created to bring fresh, high-end thinking to compact hatchback segment GENEVA – Innovative design and product planning gave birth to the Qashqai and Juke, two of the biggest automotive success stories in recent years. Now the company has applied the same radical thinking to one of the most important sectors of the market: the compact hatchback. Unveiled at the Geneva Show, the Sway is a glimpse at how a future generation of compact Nissan models might look if the company's striking new design language was applied to a European hatchback.

Nissan GT-R Nismo crash at Nurburgring kills one spectator

One spectator at the VLN endurance race at the Nurburgring in Germany this weekend has been pronounced dead after the No. 23 Nissan GT-R went airborne at the Flugplatz section of the track. Video of the accident, which can be seen above, shows that the car lifted vertically before crashing through the safety fence and into a row of spectators. As always in cases where loss of life is involved, viewer discretion is advised. The driver, Jann Mardenborough, was checked by medical officials at the track, then taken to a nearby hospital. His injuries are reportedly not serious. Mardenborough is currently scheduled as one of the drivers who will contest the 24 Hours of Le Mans in the GT-R LM Nismo. In a statement, Nismo says it is fully cooperating with race organizers. At this time, the cause of the crash is not known. Our thoughts go to the family and friends of all touched by this tragedy. Today's events have been a tragedy. We are all deeply shocked and saddened by these events and our immediate thoughts go to the deceased, those injured and their families and friends. The team is fully co-operating with the race organisers to conduct an immediate and thorough investigation into this incident.