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Market
Will Nissan's sales improve in China or USA by end of fiscal year 2024?
2
Resolution / Starting Odds
Improved in China • 25%
Improved in USA • 25%
Improved in both • 25%
No improvement • 25%
Nissan's official sales reports or market analysis from reliable sources
Story
Nissan to Cut 9,000 Jobs, Reduce Capacity by 20%, and Lowers Profit Outlook to 150.00B Yen
Nov 7, 2024, 10:46 AM
Nissan Motor Co. announced significant restructuring measures including cutting 9,000 jobs globally and reducing its production capacity by 20%. The company also lowered its annual profit outlook, forecasting a fiscal year operating income of 150.00 billion yen, down from an earlier estimate of 500.00 billion yen. This decision comes as Nissan grapples with deteriorating sales in major markets such as China and the United States. The automaker reported a net loss of 9.34 billion yen for the second quarter of 2024, against an estimated profit of 49.07 billion yen. Nissan also plans to sell a portion of its stake in Mitsubishi Motors as part of its cost-saving measures, aiming to save $2.6 billion. CEO Makoto Uchida will take a 50% pay cut as part of the restructuring efforts.
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Similar markets
North America • 25%
China • 25%
Europe • 25%
Japan • 25%
United States • 25%
China • 25%
Europe • 25%
Japan • 25%
Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
More than 15% • 25%
Nissan outperforms both • 25%
Nissan underperforms both • 25%
Nissan outperforms Toyota only • 25%
Nissan outperforms Honda only • 25%
Cost reduction • 25%
New model launches • 25%
Expanding into new markets • 25%
Investment in EV technology • 25%
Increase by over 5% • 25%
Increase by 1-5% • 25%
No significant change • 25%
Decrease • 25%