Nissan considering selling HQ to fund plant closures
Nissan may sell off its global headquarters in Yokohama, Japan to help finance the costs it will incur closing down seven factories and axing 20,000 jobs worldwide.
According to the
Nikkei
, the company has placed its headquarters in Yokohama on the list of assets it might sell by the end of March 2026.
Nissan's HQ is located on the banks on the Katabira River, and is only a few minutes walk from Yokohama station. Thanks to its prime location, it is estimated to be worth around ¥100 billion (A$1.07 billion).
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.
The current HQ was opened in 2009 when then-CEO Carlos Ghosn relocated the company's headquarters from Tokyo back to its spiritual home in Yokohama. The building contains an extensive gallery showcasing some of the automaker's most iconic models, race cars, and concepts.
It's unclear if Nissan plans to move out of the current headquarters, or if it will lease it back. So-called lease back arrangements are common for companies undergoing financial stress, or wishing to gain a pot cash to fund certain projects.
Money raised by the sale of the building and property would be used to pay for restructuring costs related to Nissan's upcoming plant closures and workforce reduction.
The automaker said restructuring costs are expected to cost ¥60 billion (A$640 million) in this current financial year alone.
Nissan has been skating on thin financial ice for the last year-and-a-bit. Earlier this month it announced
a loss of ¥670.9 billion (A$7.1 billion)
for the financial year ending March 2025.
In response
new Nissan CEO
Ivan Espinosa unveiled a recovery plan dubbed Re:Nissan, which will see the company reduce its factory count from 17 to 10, and cut its global workforce by 15 per cent or 20,000 people, both by March 2028.
A
recent report
indicates plants in Japan, Mexico, South Africa, Argentina and India are facing the axe. The company's
plant in the UK
, which produces the
Qashqai
and
Juke
, has been ruled safe, and the head of Nissan Oceania is
'quietly optimistic' about the long-term future
of Nissan's parts factory in Dandenong, Victoria.
As part of the company's latest turnaround plan, Nissan will renegotiate its deals with suppliers, cut down on platforms, and reduce development times.
It has also setup a cost-cutting 'transformation office' with an initial staff of 300 experts who have been 'empowered to make cost decisions'. On top of this development of vehicles and technology due after March 2027 has been paused in order to allocate 3000 people to find more savings.
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All Hyundai Santa Fe Hybrid vehicles are now $1500 more expensive than before, and there are no corresponding specification changes. The price increase came into effect last month (on May 1, 2025) and doesn't affect non-hybrid versions of the large SUV. It sees the Santa Fe Hybrid range now open at $57,000 before on-road costs for the entry-level front-wheel drive variant, making it $4000 more expensive than the equivalent front-wheel drive petrol variant. The petrol-electric range now tops out at $76,500 before on-roads for the flagship Santa Fe Hybrid Calligraphy, which is also $4000 more than the purely petrol-powered Calligraphy. Hyundai Australia confirmed the reason for the price increase was to align the Santa Fe with other models from the brand that offer both petrol and hybrid powertrains. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now . There's now a consistent $4000 divide between petrol and hybrid variants in the lineup, instead of $2500. The same $4000 gap can be found between turbocharged 1.6-litre and hybrid versions of Hyundai's Tucson mid-size SUV, and between front-wheel drive petrol and hybrid versions of the Kona small SUV. This 'realignment' comes perhaps as no surprise, given the current-generation Santa Fe launched here initially only with hybrid power in May 2024, with petrol power not arriving until December. Had the Hybrid been launched at its new price, the base price for the Santa Fe lineup at the time would have leapt by over $10,000. The Santa Fe Hybrid features a turbocharged 1.6-litre four-cylinder petrol-electric powertrain mated with a six-speed automatic transmission and either front- or all-wheel drive. Total outputs are 172kW of power and 367Nm of torque, with claimed combined cycle fuel economy of 5.6L/100km. Petrol-only variants employ a larger 2.5-litre four-cylinder engine and an eight-speed dual-clutch automatic. They're also offered with either front- or all-wheel drive. Non-hybrid Santa Fe vehicles produce 206kW and 422Nm, and consume 9.3L/100km. Both powertrains run on 91-octane regular unleaded fuel, but petrol vehicles can tow more (2000kg versus 1650kg). To the end of April, Hyundai has sold 2141 Santa Fes in Australia this year. That's up 78.3 per cent on the same period last year, though during that time the previous-generation model was in runout. Some of the Santa Fe's increase in popularity may have come at the expense of the larger Palisade SUV, which at 678 sales is down 35.8 per cent. Both of Hyundai's large SUVs are being outsold by the Santa Fe's decidedly different-looking corporate cousin, the Kia Sorento , of which 3284 examples were delivered to the end of April. This figure was down 8.9 per cent. A new-generation Palisade, bringing the option of hybrid power for the first time, is due to arrive in Australia during the fourth quarter of 2025. It's expected to be pricier than Hyundai's current-generation flagship SUV. Hyundai has previously said it expects sales to be split approximately 60:40 between the Santa Fe and the new Palisade once the new version of the latter arrives here. MORE: Everything Hyundai Santa Fe
