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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 GT-R Nismo 'Ring time makes it track's 'fastest volume production car' [w/video]

Performance cars are fun to drive and all, but at the end of the day ,owners drop big bucks on what are often ridiculously unpractical vehicles for the bragging rights. And when it comes to ultimate bragging rights, few get more publicized than lap times for everyone's favorite stretch of German pavement, the Nürburgring. Enter the 2015 Nissan GT-R Nismo.
After rumors about a 7:08 lap time appeared yesterday, Nissan confirmed has confirmed the news today with video footage of the run, which took place on September 30. The official lap time is just seven minutes and 8.679 seconds, putting the GT-R Nismo about 11 seconds off the pace of the Porsche 918 Spyder - some six seconds quicker than the far costlier Lexus LFA. Some admitted - but hard-to-spot - missteps by Nissan driver Michael Krumm would indicate that the car actually left some time on the table.
With this time, Nissan claims that the 595-horsepower GT-R Nismo is the "fastest volume production car" around the track. The definition of "volume" could surely be contested here, though, considering the small numbers in which the GT-R is sold. While we don't have global GT-R sales figures, this year has only seen 1,063 units sold through October, and there were close to 1,300 sold in all of 2011 and about 1,200 in 2012. While this loosely defined claim will only add to the Nürburgring lap time squabbling, it is no less impressive. Check out the record run for yourself in the video below, which is accompanied by an official press release.

Nissan recalls Rogue, Pathfinder, Infiniti QX60 for seat issue

Nissan and Infiniti are recalling their 2023 Rogue, Pathfinder and QX60 SUVs and CUVs to address a potential defect in their seat frame welds that can allow the frames to fail in the event of a collision. The number of vehicles that potentially shipped with weak welds is rather small — just over 12,000 — but the issue could nonetheless lead to injury if a failure occurs during a collision.  "The driverÂ’s powered seat may not be fully secured to the seat frame on certain Nissan Rogue, Pathfinder, and INFINTI QX60 vehicles," Nissan's report to NHTSA said. "As a result of this issue, the seat frame welds may detach from the rear inboard seat bracket. If this condition occurs, it may increase the risk of injury to the occupant in the event of a crash. In addition, the seat frame assembly may not meet certain FMVSS 207 and FMVSS 210 requirements because of this condition," Nissan said.  Nissan says there's no easy way for customers to detect the issue ahead of time, and that its seats need to be inspected by a service tech to see whether it is properly secured. Dealers will be instructed to check the driverÂ’s seat rail clearance to the inboard seat bracket, and if necessary, the dealer will remove and replace the affected driverÂ’s seat cushion frame, NIssan said. The entire procedure should take less than two hours.  Owners of affected vehicles should look for notices to be delivered no later than June.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Recalls Infiniti Nissan Crossover SUV Luxury