Flailing car brand will shut giant factory FOREVER after slumping to £40million loss and cutting 2,400 jobs
The closure comes as the firm desperately tries to balance its books, in a scheme which could see 20,000 jobs cut worldwide.
3
3
Nissan has been battling with rising costs and mounting debt in recent years, forcing the struggling car brand to reconsider its international strategy.
The company originally said that two of its factories in Mexico would be closing in a bid to slash costs.
Despite saying that the Civac Plant in Morelos and the Cooperation Manufacturing Plant Aguascalientes (COMPAS) were slated to close in 2027, the company has now accelerated plans to shutter the Civac factory.
The site will now close in 2026 and production will be moved from the site to the Auguascalientes factory - which is 300 miles away - on July 26.
Ahead of the closure, Nissan CEO Ivan Espinosa said in a statement: 'For over 60 years, Nissan Mexicana has built a strong and trusted relationship with its stakeholders in Mexico, earning global recognition as one of the company's flagship operations.
'Today, we have made the difficult but necessary decision that will allow us to become more efficient, more competitive, and more sustainable.
'Throughout this transition, we remain deeply appreciative of the invaluable contributions made by our collaborators at the CIVAC Plant.
'Their dedication over the years has been instrumental to our success.
'I take this opportunity to reaffirm our commitment to our employees, customers, and to Mexico, which remains a strategic pillar for our company.'
The Navara and Latin America Frontier pickups are produced at the Civac site.
Final days for Nissan drivers to claim $5k from 'defect' settlement – you can get multiple payouts by filling in form
The news comes as the car brand battles with mounting debt and a huge $4.5 billion net loss.
The company is also looking at a huge $4.5 billion in debt.
However, the British Government threw a lifeline to Nissan, when UK Export Finance underwrote a £1 billion loan to keep the company afloat.
The firm is looking to trim its number of factories down from 17 to just 10.
As a result, the total job losses worldwide could number as high as 20,000.
The UK government hopes the lifeline will protect thousands of jobs at the Sunderland factory.
Nissan has also announced plans to close its flagship factory in the Kanagawa Prefecture, south of Tokyo.
Nissan has been battling with falling vehicle sales in China, huge restructuring costs and US President Donald Trump's international tariff war.
Trump's tariffs have raised the cost of importing vehicles, causing car sales of many different brands to nosedive across the world.
As a result, international car brands have been struggling as the cost of exporting soars.
3
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Blog
3 hours ago
- Auto Blog
One SoCal Fisker Dealer is Still In Business and Has Inventory
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Thanks to a serious boost in power, beefier suspension and new aero, the 2026 Nissan Armada NISMO gives the big SUV some street-cred. The features you're willing to give up depend on your budget. Find out which car tech, luxury touches, and connected services consumers are sacrificing for a lower price. Fisker filed for bankruptcy last year and subsequently shut down, leaving owners with no parts, repair support, or warranty coverage. The company's only model, the Ocean, saw heavy discounts as it attempted to recoup some of its sunk costs, but one Southern California dealership has more inventory than they'd probably like. Previous Play Next Unmute 0:00 / 0:09 Full screen VW will introduce a sub-$20,000 EV, but probably not here Watch More Oddly, the dealer is actually Newport Fisker, which raises a bunch of questions on its own, but the store's inventory is packed with bargain basement Ocean SUVs. Fisker originally charged around $38,000 to start, with prices ranging up to around $80,000. Most of the models in Newport's inventory cost around $25,000, but that's likely a drop in the bucket compared to the headaches owning an EV from a defunct brand would bring. EVs tend to depreciate much faster than their gas-only counterparts, and Fisker's demise knocked the Ocean's resale value further, but again, buyer beware. Source: Fisker Unlucky owners have relied on word of mouth and online forums to find parts, but even if they can find the part they need, there are no ongoing software updates or support. That's a tough situation, considering that the Ocean didn't work all that well from the factory, and the company's software updates barely addressed problems, even when it was in business. You might get lucky and find one of the rare, problem-free Oceans in Newport's inventory, but it's a risk we'd advise against taking. That paltry $25,000 purchase price could buy a vehicle that lasts a while, but it's more likely to net an SUV with a range of small problems, and there are few to no resources to support owners when something happens. About the Author Chris Teague View Profile
Auto Blog
3 hours ago
- Auto Blog
2026 Hyundai Palisade Vs. 2026 Hyundai Santa Fe: 5 Major Differences
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. The Chevrolet Blazer and Blazer EV share a name, but that's where the similarities end between these family crossovers. Thanks to a serious boost in power, beefier suspension and new aero, the 2026 Nissan Armada NISMO gives the big SUV some street-cred. View post: Nissan's New Armada NISMO Adds More Power and Swagger to the Brutish SUV The features you're willing to give up depend on your budget. Find out which car tech, luxury touches, and connected services consumers are sacrificing for a lower price. Hyundai now has two of the best three-row SUVs on the market In the space of just a year or two, Hyundai has two fresh-faced, three-row, gas-powered crossovers on sale. The Santa Fe was completely revised as of the 2024 model year, and the 2026 Santa Fe recently debuted. These SUVs have a large pricing overlap, so it can be tricky for Hyundai fans to decide which one is the better buy. To help you make that decision, we've outlined five major differences between the 2026 Palisade and 2026 Santa Fe. 0:09 / 0:09 2025 Audi S3 VS 2025 Mercedes-AMG CLA 35: Which one comes out on top? Watch More 1. Palisade Has More Cylinders And Power Both SUVs come with gas and hybrid powertrains, but the Palisade has more grunt in both configurations. In the Santa Fe, a 2.5-liter four-cylinder turbocharged engine makes 277 horsepower and 311 lb-ft of torque, paired with a newly standard eight-speed automatic and front- or all-wheel drive. By comparison, the standard Palisade has a 3.5-liter V6 with 287 hp and 260 lb-ft of torque; it has the same drivetrain choices as the Santa Fe. Moving on to the hybrids, the Santa Fe Hybrid's 1.6-liter four-pot hybrid makes 231 hp and 271 lb-ft combined. The transmission is a six-speed automatic, and it also has FWD or AWD. The hybrid equivalent of the Palisade uses a 2.5-liter four-pot instead, and it makes 329 hp and 339 lb-ft combined, easily more than the Santa Fe Hybrid. FWD is standard and AWD optional. By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. While the gap between the gas-only models is smaller, many may prefer the smoothness of the Palisade's V6. 2. Santa Fe Wins For Efficiency There's no contest here. The base Santa Fe returns 20/29/24 mpg city/highway/combined with FWD, or 20/28/23 mpg with AWD. The much larger V6 in the Palisade gets 19/25/21 mpg with FWD or 18/24/20 mpg with AWD. On paper, then, the Santa Fe's standard engine looks like the winner, as it's not far behind on power, has more torque, and is much more efficient. The Santa Fe Hybrid manages up to 37/36/36 mpg with FWD and 35/34/34 mpg with AWD. Hyundai has only said that the Palisade Hybrid is expected to get over 30 mpg and has a range of up to 619 miles. In the Santa Fe Hybrid, you can cover up to 637 miles on a full tank. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. 3. Palisade Can Seat An Extra Person And Has A Bigger Third Row Both these SUVs have slick, airy interiors. Materials are of a high quality and there's no shortage of screen real estate and tech to keep the whole family connected. The larger Palisade has an advantage in terms of accommodating passengers, though. Depending on the trim, the Santa Fe can only seat seven or six occupants. All Palisades can seat at least seven occupants, and if you go for the base SE or the Hybrid SEL Premium, it's possible to seat up to eight people. While both vehicles have generous space in the first two rows, the Santa Fe is more cramped in its third row, where it has 37.7 inches of headroom and 30 inches of legroom. In the Palisade's third row, you'll find 37.8 inches of headroom and 32.1 inches of legroom, so this is the better choice if you ever need to put older teens or adults in the back row. 4. Trim For Trim, Santa Fe Is Cheaper The Santa Fe lineup begins at $34,800 for the SE with FWD and goes all the way up to $50,250 for the Santa Fe Calligraphy Hybrid with AWD. For the base Palisade, expect to pay $38,935 for the SE with FWD and as much as $58,280 for the Hybrid Calligraphy. There are some big gaps in pricing between comparable trims. For instance, the Santa Fe Calligraphy costs $47,350, but the Palisade Calligraphy goes for $54,060, which is $6,710 more. Both these trims have classy Nappa leather, the highway driving assist system, and a camera-based rearview mirror. You do get more luxurious accommodations in the Palisade, though, such as third-row heated seats and even power-adjustable second-row seats. If you don't need a bigger third row with all the extras, you can save a lot by going for the Santa Fe. 5. Palisade Can Tow More If their spacious cargo areas aren't enough, you may want to consider how much these crossovers can tow. The Santa Fe can manage 4,500 pounds in XRT guise or up to 2,000 lbs with the hybrid. The Palisade can handle up to 5,000 lbs, or as much as 4,000 lbs for the hybrid. All Santa Fe and Palisade models come with standard trailer sway control. Final Thoughts If you absolutely need a V6, more power, or a lot of third-row space, go for the Palisade. But if you want an efficient, high-value three-row SUV, the Santa Fe is better. Between these two extremes, choosing between the Santa Fe and Palisade becomes more complicated, and could come down to comparing specification sheets and individual trim prices. The new Santa Fe is a vast improvement over the outgoing model, so has moved closer in overall capability to the more premium Palisade. Either way, you can't go wrong. These are two highly competitive products that reside at or near the top of the class. About the Author Karl Furlong View Profile
BBC News
4 hours ago
- BBC News
Two seriously hurt after taxi and car crash at 3am in Birmingham
Three men have been taken to hospital after a crash involving a taxi and a car in services were called to Icknield Street, at its junction with Hingeston Street, Soho, shortly after 03:00 BST on Midlands Police said a man driving a Peugeot taxi and a man from a Volkswagen Golf were taken to hospital with injuries described as life-threatening.A second man from the Volkswagen Golf was also taken to hospital for treatment to injuries. The force confirmed the road has also asked for witnesses, or anyone with information, to get in touch. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
