Latest news with #GT-RR35
Business Mayor
12-05-2025
- Automotive
- Business Mayor
Major car brand reveals plans to cut THOUSANDS MORE jobs as they nurse huge losses
A MAJOR car manufacturer is planning to axe tens of thousands of jobs globally. Japanese car giant Nissan revealed today that they will be cutting 11,000 roles worldwide, according to a report by Japanese broadcaster NHK – just months after the brand had already announced plans to cut around 9,000 jobs 2 Nissan revealed they are set to lose £4 billion after axing 9,000 jobs earlier this year Credit: Getty 2 Some 6000 workers at Nissan's Sunderland plant could be faced with job cuts Credit: PA The now nearly 20,000 job cuts come as the marque is reported to be facing intense competition and struggles in the car market. Last year, Nissan revealed a 70 per cent fall in profits when it warned of potential reduction in jobs and production rates. This includes some 6,000 job losses at Nissan's plant in Sunderland, with a total 15 per cent of its entire workforce expected to be hit. The company is still looking for a new industrial partner since scaling back its alliance with France's Renault, as well as aborting an attempted merger with Japanese rival Honda back in February. Nissan has refused to comment on the report so far, and a spokesperson from the car manufacturer's UK business has been unable to immediately confirm claims. Its suffering has been linked to collapsing market share in China, where its cars were previously lucrative. Sales have more than halved there in the past four years. In addition, Nissan and other Japanese rivals have been slow to develop electric models of their vehicles, causing them to fall behind their Chinese counterparts like BYD, Chery, and Geely. The aforementioned trio have all produced hugely popular electric and hybrid vehicles in recent years. Nissan's new boss in China, Stephen Ma, said last month: 'The Chinese brands were too fast, to be honest. Why legacy car brands like Nissan, Jeep and VW are dying 'They were exceptional in how fast they moved. 'It took everybody by surprise. 'Now I think we have reset.' Automotive Analyst at Jato Dynamics, Felipe Munoz, told The Telegraph: 'Partly this is a result of external factors that are affecting other carmakers as well, but it's partly due to their own product line-ups as well. 'They are not aligned with what consumers are buying nowadays.' Nissan has subsequently been underperforming in every market it has operated in, as Chinese competitors have started to encroach on its sales in regions like South East Asia. The company is expected to confirm its losses for the 2024-25 financial year on Tuesday. They previously predicted they could make a net loss of anywhere between £3.7billion to £4billion. The company recorded a £2.3billion income a year ago. This comes months after the brand said farewell to one of its most iconic models. The GT-R R35, affectionately known as Godzilla, that was first unveiled at the Tokyo Motor Show in 2007 rolled off the production line for the final time in February. But the firm's boss recently said it 'will be back without a doubt' in a heartfelt message for customers and fans.
The Irish Sun
12-05-2025
- Automotive
- The Irish Sun
Major car brand reveals plans to cut THOUSANDS MORE jobs as they nurse huge losses
A MAJOR car manufacturer is planning to axe tens of thousands of jobs globally. Japanese car giant Nissan revealed today that they will be cutting 11,000 roles worldwide, according to a report by Japanese broadcaster NHK - just months after the brand had already announced plans to cut around 9,000 jobs Advertisement 2 Nissan revealed they are set to lose £4 billion after axing 9,000 jobs earlier this year Credit: Getty 2 Some 6000 workers at Nissan's Sunderland plant could be faced with job cuts Credit: PA The now nearly 20,000 job cuts come as the marque is reported to be facing intense competition and struggles in the car market. Last year, Nissan revealed a 70 per cent fall in profits when it warned of potential reduction in jobs and production rates. This includes some 6,000 job losses at Nissan's plant in Sunderland, with a total 15 per cent of its entire workforce expected to be hit. The company is still looking for a new industrial partner since scaling back its alliance with France's Renault, as well as aborting an attempted merger with Japanese rival Honda back in February. Advertisement Read More Motors News Nissan has refused to comment on the report so far, and a spokesperson from the car manufacturer's UK business has been unable to immediately confirm claims. Its suffering has been linked to collapsing market share in China, where its cars were previously lucrative. Sales have more than halved there in the past four years. In addition, Nissan and other Japanese rivals have been slow to develop electric models of their vehicles, causing them to fall behind their Chinese counterparts like BYD, Chery, and Geely. Advertisement Most read in Motors The aforementioned trio have all produced hugely popular electric and hybrid vehicles in recent years. Nissan's new boss in China, Stephen Ma, said last month: 'The Chinese brands were too fast, to be honest. Why legacy car brands like Nissan, Jeep and VW are dying 'They were exceptional in how fast they moved. "It took everybody by surprise. Advertisement "Now I think we have reset.' Automotive Analyst at Jato Dynamics, Felipe Munoz, told 'They are not aligned with what consumers are buying nowadays.' Nissan has subsequently been underperforming in every market it has operated in, as Chinese competitors have started to encroach on its sales in regions like South East Asia. Advertisement The company is expected to confirm its losses for the 2024-25 financial year on Tuesday. They The company recorded a £2.3billion income a year ago. This comes months Advertisement The GT-R R35, affectionately known as Godzilla, that was first unveiled at the Tokyo Motor Show in 2007 rolled off the production line for the final time in February. But the firm's boss recently said it "will be back without a doubt" in a heartfelt message for customers and fans.
The Irish Sun
29-04-2025
- Automotive
- The Irish Sun
Boss of iconic British supercar maker steps down after merger with luxury EV brand as it eyes making cheaper motors
A MAJOR shakeup has hit a British supercar manufacturer as it's CEO has stepped down just weeks after the company confirmed its full-scale merger with an EV start-up. Michael Leiters, who took the helm of the iconic 4 Michael Leiters, CEO of McLaren, is stepping down Credit: Getty 4 Leiters first arrived at the company's headquarters of Woking three years ago Credit: Getty 4 McLaren announced it would be merging with EV brand Forseven on April 3 Credit: Forseven Leiters will be succeeded by Nick Collins, former CEO of Forseven, who will now lead the newly formed McLaren Group Holdings. McLaren said Leiters' "contribution and leadership were crucial to the company's transition, including important phases like the recapitalisation and change of ownership". Leiters said: "I am honoured to have led McLaren Automotive over the past three years. "I am thankful having worked alongside such a dedicated and talented team. Read more on motors "I'm proud of what we've achieved together and confident that the business is on a strong path for success. "I wish all involved the very best in the future.' Leiters steered the luxury car manufacturer through a critical financial revamp and change in ownership. McLaren was snapped up in December by Most read in Motors The long-expected merger was made official on April 3. During his time at McLaren, Leiters, a former Ferrari CTO who has also worked at Porsche, oversaw key launches like the hybrid British sports car brand to release new flagship model in just weeks - and it'll follow a legendary motor from the 1990s McLaren Automotive, which is a separate entity from their famous F1 team, was founded in 2010, with its headquarters based in Woking. Under McLaren and Forseven's full-scale merger, all future cars will continue to wear the McLaren badge, with the Forseven one disappearing. The supercar manufacturer was previously owned by Bahrain's Mumtalakat Holding Company. It comes after an iconic sports car that was discontinued earlier this year Nissan released a heartfelt message for customers and fans of the iconic GT-R The GT-R R35, affectionately known as Godzilla, was first unveiled at the Tokyo Motor Show in 2007 before being updated many times, most recently in 2023. Nissan's USA chief product planner, Ponz Pandikuthira, recently told Motor1: "Those big horsepower cars are simply not going to meet emissions standards. "So it's a matter of where the tech catches up with us. Battery tech, motor tech, and it may take us a few years, but GT-R will be back, without a doubt." 4 A McLaren 720S is seen on a production line as Britain's Prince William, Duke of Cambridge tours the factory floor in Woking in 2017 Credit: AFP McLaren's history McLaren was founded in 1963 by New Zealander Bruce McLaren as a racing team. The team entered Formula 1 in 1966 and became one of the sport's most successful names. McLaren won its first F1 World Championship in 1974 with driver Emerson Fittipaldi. It dominated F1 in the 1980s and 1990s with stars like Ayrton Senna and Alain Prost. In 1992, McLaren launched its first road car, the McLaren F1, a record-breaking supercar. After years partnering with Mercedes, McLaren began building its own engines and cars. McLaren Automotive was officially launched as a separate road car company in 2010. Its first modern supercar, the MP4-12C, debuted in 2011. In 2022, McLaren launched the Artura, its first series-production hybrid. In 2025, it merged with EV start-up Forseven as part of a shift toward electric vehicles.
