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Straits Times
15-05-2025
- Automotive
- Straits Times
Nissan is dying and taking globalisation with it
More than half of revenues are in North America, and about 30 per cent of the vehicles produced in its Japanese factories are exported to the same market. PHOTO: AFP In retrospect, you can put a date on the moment globalisation peaked: Jan 24, 2018. In the rarefied winter air of Davos, Switzerland, Mr Carlos Ghosn – then boss of the sprawling alliance of Nissan Motor, Renault SA and Mitsubishi Motors – was asked what he thought of a tentative initial round of tariffs on washing machines and solar panels imposed by US President Donald Trump. Join ST's Telegram channel and get the latest breaking news delivered to you.
Epoch Times
15-05-2025
- Automotive
- Epoch Times
Nissan Slashes 15 Percent of Its Global Work Force as the Japan Automaker Sinks Into Losses
TOKYO—Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in China and other nations, and towering restructuring costs. Nissan Motor Corp. said it will reduce the number of its auto plants to 10 from 17, under what it called its recovery plan to carry out 'decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes.' It did not say which plants were being closed but confirmed the closures will include factories in Japan. 'We have a mountain to climb,' its Chief Executive Ivan Espinosa told reporters, stressing the task will not be easy, requiring discipline and team work. 'Starting today, we build the future for Nissan.' The job cuts to be done by March 2028 include the 9,000 head count reduction announced last year. Nissan also previously announced the scrapping of plans to build a battery plant in Japan. Espinosa, who took the helm earlier this year, said the latest plans followed a careful review of operations, to align production with demand, including coming up with market and product strategies. Nissan will also leverage its partnerships such as the one with Renault SA of France in Europe and Dongfeng Nissan in China, he said. The Yokohama-based automaker said U.S. President Donald Trump's tariffs on auto imports also hurt its results. Related Stories 2/17/2025 2/13/2025 Nissan racked up a loss of 670.9 billion yen ($4.5 billion) for the fiscal year through March, down from a 426.6 billion yen profit recorded the previous fiscal year. For the latest quarter through March, Nissan recorded red ink totaling 676 billion yen ($4.6 billion). It also said its recovery plan includes trying to reduce costs by 500 billion yen ($3.4 billion) compared to current costs. 'As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery,' Espinosa said. 'All employees are committed to working together as a team to implement this plan, with the goal of returning to profitability by fiscal year 2026,' he said. But Nissan Chief Financial Officer Jeremie Papin acknowledged the automaker faces serious challenges. Nissan did not give a profit projection for the fiscal year through March 2026, citing uncertainties. By Yuri Kageyama
Euronews
13-05-2025
- Automotive
- Euronews
Nissan to shed 20,000 jobs as Japanese automaker reports loss
Japan carmaker Nissan announced a recovery plan to create a "more resilient business that adapts quickly to market changes", after the company reported a net loss of ¥671 billion (€4bn) for the fiscal year that just ended in March. This compares to the previous fiscal year's net profit, which amounted to €2.6bn. The loss was mainly driven by slipping vehicle sales in China and other nations, and towering restructuring costs. Nissan Motor Corp. said it will reduce the number of its auto plants to 10 from 17, under the recovery plan. It did not say which plants were being closed but confirmed the closures will include factories in Japan. "We have a mountain to climb," its Chief Executive Ivan Espinosa told reporters, stressing the task will not be easy, requiring discipline and team work. "Starting today, we build the future for Nissan." The job cuts to be done by March 2028 include the 9,000 head count reduction announced last year. Nissan also previously announced the scrapping of plans to build a battery plant in Japan. Nissan's recovery plan includes trying to reduce costs by 500 billion yen ($3.4 billion) compared to current costs. Espinosa, who took the helm earlier this year, said the latest plans followed a careful review of operations to align production with demand, including coming up with market and product strategies. Nissan will also leverage its partnerships, such as the one with Renault SA of France in Europe and Dongfeng Nissan in China, he said. The Yokohama-based automaker said US President Donald Trump's tariffs on auto imports also hurt its results. "As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery," Espinosa said. "All employees are committed to working together as a team to implement this plan, with the goal of returning to profitability by fiscal year 2026," he said. But Nissan Chief Financial Officer Jeremie Papin acknowledged the automaker faces serious challenges. Nissan did not give a profit projection for the fiscal year through March 2026, citing uncertainties.
Boston Globe
13-05-2025
- Automotive
- Boston Globe
Nissan slashes 15 percent of its global work force as the Japan automaker sinks into losses
Advertisement The job cuts to be done by March 2028 include the 9,000 head count reduction announced last year. Nissan also previously announced the scrapping of plans to build a battery plant in Japan. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Espinosa, who took the helm earlier this year, said the latest plans followed a careful review of operations, to align production with demand, including coming up with market and product strategies. Nissan will also leverage its partnerships such as the one with Renault SA of France in Europe and Dongfeng Nissan in China, he said. The Yokohama-based automaker said U.S. President Donald Trump's tariffs on auto imports also hurt its results. Nissan racked up a loss of 670.9 billion yen ($4.5 billion) for the fiscal year through March, down from a 426.6 billion yen profit recorded the previous fiscal year. Advertisement For the latest quarter through March, Nissan recorded red ink totaling 676 billion yen ($4.6 billion). It also said its recovery plan includes trying to reduce costs by 500 billion yen ($3.4 billion) compared to current costs. 'As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery,' Espinosa said. 'All employees are committed to working together as a team to implement this plan, with the goal of returning to profitability by fiscal year 2026,' he said. But Nissan Chief Financial Officer Jeremie Papin acknowledged the automaker faces serious challenges. Nissan did not give a profit projection for the fiscal year through March 2026, citing uncertainties.
Yahoo
09-05-2025
- Automotive
- Yahoo
Availability of the Base Prospectus for the 2025 EMTN programme
Press ReleaseMay 9, 2025 Availability of the Base Prospectus for the 2025 EMTN programme Boulogne-Billancourt, May 9th, 2025 On May 7th, 2025, Renault SA registered the Base Prospectus for its EMTN programme with the French market Authority (Autorité des marchés financiers – AMF) under visa number 25-145. This prospectus is available free of charge upon request at Renault SA head office, 122-122 bis avenue du Général Leclerc 92100 Boulogne-Billancourt, France. It is also available on Renault Group's website ( as well as on the AMF's website ( About Renault Group Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its 4 brands - Renault - Dacia - Alpine and Mobilize - and offers sustainable and innovative mobility solutions to its customers. Established in 114 countries, Renault Group sold 2.265 million vehicles in 2024. It employs more than 98,000 people who embody its Purpose every day, so that mobility brings people to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group's ambition is to achieve carbon neutrality in Europe by 2040. RENAULT GROUP INVESTORRELATIONS Philippine de Schonen+33 6 13 45 68 RENAULT GROUP PRESS RELATIONS François Rouget+ 33 6 23 68 07 Attachment Renault SA - Availability of the EMTN Prospectus 2025Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
