Huge losses overtook Nissan

Nissan showed a report on its work over the past year.

The document shows that in the 3rd fiscal quarter, they had a net loss of 26.1 billion yen ($237 million) with a sharp drop in car sales.

The Financial Times writes that this is a record quarterly loss that has not happened in the past ten years.

Nissan sales worldwide fell by 8.1% to 3.7 million units. In the USA, the loss is 9.1% (980,000 units), in other countries - by 11.5% (up to 547,000 units). The largest market for the company in China (about a third of all car sales), but revenue and revenues here also declined.

The group’s huge losses were the reason for reducing the annual forecast of operating profit by 43%, to 65 billion yen (about $591 million). The main reason for this can be considered the spread of coronavirus in China because it is necessary to suspend the work of both car factories and parts suppliers.