Latest news with #MakotoUchida
Fast Company
30 minutes ago
- Automotive
- Fast Company
Struggling Japanese automaker Nissan announces $782 million loss in 2nd quarter of 2025
Japanese automaker Nissan sank into a 115.8 billion yen ($782 million) loss for April-June, but promised Wednesday to return to profitability later this year. Nissan Motor Corp. did not give a full year net profit forecast. It recorded a 28.6 billion yen profit during the April-June quarter last year. Quarterly sales for the current fiscal year slipped nearly 10% to 2.7 trillion yen ($18 billion). The maker of the Leaf electric car and Infiniti luxury models said the results were better than expected. But it faces 'headwinds,' including declining sales, unfavorable exchange rates and President Donald Trump's tariffs. Ivan Espinosa, who took the helm at Nissan in April replacing Makoto Uchida, said the company's recovery plan remained urgent. Uchida stepped down to take responsibility for the dismal fiscal results. Espinosa noted the initial steps of the company's revival plan were kicking in, including cutting costs, realigning products, reshaping a market strategy and strengthening partnerships. 'We must now go further and faster to achieve profitability. Everyone at Nissan is united in delivering a recovery that will ensure a sustainable and profitable future,' he said. Nissan, based in the port city of Yokohama, has been struggling but is promising a turnaround under Espinosa, a Mexican with two decades of experience at Nissan. The company said some of its models, such as the N7 in China and the Magnite in Mexico, have been selling well recently. Nissan recently ditched talks with Japanese rival Honda Motor Co. to set up a joint holding company. They said they will continue to cooperate on technology development. Nissan is closing its flagship factory in Oppama, Japan, outside Tokyo, by the end of the 2027 fiscal year, moving production there to another plant in southwestern Japan. Nissan is also slashing 15% of its global work force, or about 20,000 employees. That includes a 9,000 head count reduction announced late last year.
Al Arabiya
2 hours ago
- Automotive
- Al Arabiya
Nissan Racks up red ink, but the Japanese automaker promises a return to profit later this year
Japanese automaker Nissan sank into a 115.8 billion yen ($782 million) loss for April–June but promised Wednesday to return to profitability later this year. Nissan Motor Corp. did not give a full year net profit forecast. It recorded a 28.6 billion yen profit during the April–June quarter last year. Quarterly sales for the current fiscal year slipped nearly 10 percent to 2.7 trillion yen ($18 billion). The maker of the Leaf electric car and Infiniti luxury models said the results were better than expected. But it faces headwinds including declining sales, unfavorable exchange rates and President Donald Trump's tariffs. Ivan Espinosa, who took the helm at Nissan in April replacing Makoto Uchida, said the company's recovery plan remained urgent. Uchida stepped down to take responsibility for the dismal fiscal results. Espinosa noted the initial steps of the company's revival plan were kicking in, including cutting costs, realigning products, reshaping a market strategy and strengthening partnerships. 'We must now go further and faster to achieve profitability. Everyone at Nissan is united in delivering a recovery that will ensure a sustainable and profitable future,' he said. Nissan, based in the port city of Yokohama, has been struggling but is promising a turnaround under Espinosa, a Mexican with two decades of experience at Nissan. The company said some of its models, such as the N7 in China and the Magnite in Mexico, have been selling well recently. Nissan recently ditched talks with Japanese rival Honda Motor Co. to set up a joint holding company. They said they will continue to cooperate on technology development. Nissan is closing its flagship factory in Oppama, Japan, outside Tokyo by the end of the 2027 fiscal year, moving production there to another plant in southwestern Japan. Nissan is also slashing 15 percent of its global work force, or about 20,000 employees. That includes a 9,000 head count reduction announced late last year.
The Independent
5 hours ago
- Automotive
- The Independent
Nissan racks up red ink, but the Japanese automaker promises a return to profit later this year
Japanese automaker Nissan sank into a 115.8 billion yen ($782 million) loss for April-June, but promised Wednesday to return to profitability later this year. Nissan Motor Corp. did not give a full year net profit forecast. It recorded a 28.6 billion yen profit during the April-June quarter last year. Quarterly sales for the current fiscal year slipped nearly 10% to 2.7 trillion yen ($18 billion). The maker of the Leaf electric car and Infiniti luxury models said the results were better than expected. But it faces 'headwinds,' including declining sales, unfavorable exchange rates and President Donald Trump's tariffs. Ivan Espinosa, who took the helm at Nissan in April replacing Makoto Uchida, said the company's recovery plan remained urgent. Uchida stepped down to take responsibility for the dismal fiscal results. Espinosa noted the initial steps of the company's revival plan were kicking in, including cutting costs, realigning products, reshaping a market strategy and strengthening partnerships. 'We must now go further and faster to achieve profitability. Everyone at Nissan is united in delivering a recovery that will ensure a sustainable and profitable future,' he said. Nissan, based in the port city of Yokohama, has been struggling but is promising a turnaround under Espinosa, a Mexican with two decades of experience at Nissan. The company said some of its models, such as the N7 in China and the Magnite in Mexico, have been selling well recently. Nissan recently ditched talks with Japanese rival Honda Motor Co. to set up a joint holding company. They said they will continue to cooperate on technology development. Nissan is closing its flagship factory in Oppama, Japan, outside Tokyo, by the end of the 2027 fiscal year, moving production there to another plant in southwestern Japan. Nissan is also slashing 15% of its global work force, or about 20,000 employees. That includes a 9,000 head count reduction announced late last year. ___
The Citizen
17-07-2025
- Automotive
- The Citizen
Rosslyn plant safe for now as Nissan commits to Africa growth
Nissan South Africa has broken its silence on reports that its Rosslyn plant outside Pretoria could close as part of the Re:Nissan restructuring plan. Seven factories in line for closure The Citizen reports that in May, Reuters revealed at least seven of the brand's 17 global production sites face closure before the end of the decade. Those most likely are Oppama and Shonan in Japan, the Renault co-run Chennai and Santa Isabel plants in India and Argentina, and at least one of its three plants in Mexico. This follows the brand announcing a net loss of R82.2b earlier this year, coupled with a planned 15% cut in its global workforce from the original 9 000 announced last year, to at least 20 000 by 2027. The failed merger with Honda and the subsequent resignation of CEO Makoto Uchida have also been cited as reasons for the brand's worsening position. Rosslyn's dilemma One of the plants rumoured for closure, the 59-year-old Rosslyn facility – which currently only produces the Navara for South Africa and Sub-Saharan Africa – has been under scrutiny following the withdrawal of the NP200 in 2023. As a result of Russia's invasion of Ukraine, Nissan cut its workforce by 400, despite its chairperson for the Africa, Middle East, India, Europe and Oceania regions, Guillaume Cartier, stating last year it is exploring production of a second model to fully utilise the plant's capacity. At the same time, Nissan's managing director for South Africa and independent African markets, Maciej Klenkiewicz, confirmed a study is under way into the feasibility of producing another model alongside the Navara. Sign of staying? Speaking at the launch of the Navara Stealth in Magaliesburg last week, Nissan president for Africa Jordi Vila suggested that, despite persistent rumours, the brand has no plans to exit South Africa or shut down Rosslyn. This comes after confirmation that the Oppama plant will cease operations by 2028, while the Chennai and Santa Isabel facilities may become fully owned by Renault, with current Nissan products continuing, albeit assembled by its alliance partner. 'We need to be proud of our heritage and where we come from. And when I look at Nissan's history in South Africa and the models, we should not lose that and [instead] build on it for the future. It is a market where we want to be from the past to the future,' Vila said. 'We are committed to growth in Africa and South Africa. Our plan is to grow – we grew with Navara and Magnite, and we want to grow the concept of built in Africa for Africa. 'We should be proud of producing this quality of vehicle (in Africa), and we don't want to give up on that,' Vila concluded.
The Citizen
17-07-2025
- Automotive
- The Citizen
Nissan hints future of Rosslyn is safe despite speculation
Troubled Japanese brand's President of Africa has provided the biggest indication that it won't leave South Africa anytime soon. Nissan South Africa has broken its silence on ongoing reports that its Rosslyn plant outside Pretoria is set to close as part of the Re:Nissan restructuring plan. Seven factories in-line for closure Back in May, Reuters reported that at least seven of the brand's 17 global production sites are facing closure before the end of the decade, with those most likely being Oppama and Shonan in Japan, the Renault co-run Chennai and Santa Isabel plants in India and Argentina, and at least one of its three plants in Mexico. ALSO READ: Reports claim Rosslyn to be one of Nissan's plants facing closure This after the brand, earlier this year, announced a net loss of R82.2-billion, with the added knock-off being a planned 15% cut in its global workforce from the original 9 000 announced last year, to at least 20 000 by 2027. At the same time, its failed merger with Honda, with the subsequent resignation of CEO Makoto Uchida, has been cited as a further reason for the brand's worsening position. Rosslyn's dilemma One of the plants rumoured for closure, the 59-year old Rosslyn facility, which currently only produces the Navara for South Africa and Sub-Saharan Africa, has been a point of uncertainty following the withdrawal of the NP200 in 2023. The result of Russia's invasion of Ukraine, the move resulted in Nissan cutting its workforce by 400, despite its Chairperson for the Africa, Middle East, India, Europe and Oceania regions, Guillaume Cartier, maintaining as last year that it is looking into producing a second model to fully utilise the plant's capacity. At the same time, Nissan's Managing Director for South Africa and Independent African Markets, Maciej Klenkiewicz, said a study is underway in to the feasibility of producing another model alongside the Navara. Sign of staying? Addressing the media at the launch of the Navara Stealth in Magaliesburg last week, Nissan President for Africa, Jordi Vila, alluded to that, despite persisting rumours, the brand has no intentions of exiting South Africa or shutting down Rosslyn. This, after it was confirmed this week that the Oppama plant will indeed cease operations by 2028, while the Chennai and Santa Isabel facilities could become fully owned by Renault and result in current Nissan products continuing, though fully assembled by its alliance partner. 'We need to be proud of our heritage and where we come from. And when I look at Nissan's history in South Africa and the models, we should not lose that and [instead] build on it for the future. It is a market where we want to be from the past to the future,' Vila said. 'We are committed to growth in Africa and South Africa. Our plan is to grow – we grew with Navara and Magnite, and we want to grow the concept of built in Africa for Africa. 'We should be proud of producing this quality of vehicle (in Africa), and we don't want to give up on that,' Vila concluded. ALSO READ: Nissan's bleak outlook: revenue down, looming 20 000 job cuts
