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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.

BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.

Mercedes pickup could have Nissan DNA

Daimler and the Renault-Nissan Alliance are already close partners. Now it seems that the upcoming Mercedes-Benz midsize pickup might have a little Nissan DNA in it, too. Or maybe not, depending on how you interpret comments by Renault-Nissan CEO Carlos Ghosn. "I don't want anybody to think that because they announced a pickup truck, they have to make it with us. Not at all," Ghosn said at the New York Auto Show, according to Automotive News. "They are completely free to do it by themselves, to do it with somebody else, etc., and also, or to do it with us." The Mercedes Vans division is responsible for the truck's development, and the pickup is aimed at the popular global midsize segment against vehicles like the Ford Ranger and Toyota Hilux. There's no mention of any plans for the model in North America. Instead, Mercedes wants to focus on Latin America, South Africa, Australia and Europe for a launch slated before 2020. Ghosn was quite clear there was no decision either way as of yet. "Is this something that can eventually be on the table? I told you, everything is on the table between us," he said, according to Automotive News. If the two companies do decide to collaborate on a midsize truck, the timing would seem perfect. Nissan completed development of its NP300 Navara in 2014, and the automaker has been at work at least evaluating powertrains for the next Frontier possibly for 2019. Related Video: