Nissan, which is currently a year away from closing completely, is looking at a half-yearly report where the operating profit has shrunk by 90 percent.
Nissan has tested it too. In other words, being in a situation where the closure of the entire business was a possibility. But even if profits have collapsed by 90 percent, the Japanese will not repeat the mistakes of the past.
That's what Autocar writes.
In 1999, Nissan was saved by Renault, who jumped in and bought 35 percent of the car brand. Three years later, Nissan was again on the verge of bankruptcy. But was saved by further Renault acquisitions.
And although the situation is now serious again in Japan, Nissan will try to avoid a collapse like the one in 1999.
Speaking to the Financial Times, a source has named Honda as Nissan's new saviour. Specifically as a possible buyer of shares that Renault now wants to get rid of.
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Nissan has been hit by several economic challenges after the brand has been forced into massive discounts during the first half of 2024 in order to sell cars in some markets such as the US and China.
For the same reason, the Japanese are now cutting 9,000 positions. Just as you turn down global car production by 20 percent. Managing director Makoto Uchida, who took over the job in December 2019, has already taken a fifty percent pay cut.
However, Nissan is not the only car brand with serious pocket pain. Volkswagen management insists that factory closures in Germany are necessary. And Stellantis, who i.a. owner of Peugeot and Opel, fired its chief director on the night of Monday Danish time.
Officially, it is said that the 66-year-old Carlos Tavares himself chose to resign a year early. But several analysts point out that the car group had enough. Blue. because Tavares has threatened to close several of the group's total of 14 car brands. Read more about it here .
