Should We Start The DEATH Clock? Nissan Reports STAGGERING 87% DROP In Profit

Crisis-hit Japanese automaker Nissan said Thursday its net profit plunged more than 87 percent for the nine months to December as it struggles with weak demand and fallout from the arrest of former boss Carlos Ghosn.

Nissan revised downwards its full-year sales and profit forecasts, but warned that the impact from the spreading coronavirus crisis was not yet included in their figures.

"Let me express my sincere regrets to shareholders. The company results are weaker than expected," said CEO Makoto Uchida, who announced there would be no dividend paid.

Net profit for April-December dropped 87.6 percent to 39.3 billion yen ($358 million), on sales down 12.5 percent at 7.5 trillion yen for the period...

wilfred - 2/14/2020 1:57:56 AM

+1 Boost

Death clock? Seriously? Nissan maybe in a bad situation but they are still profitable.

That's a whole lot more better than a company that runs hyping it's stock and having it's customers as guinea pigs for all the R&D...

SanJoseDriver - 2/14/2020 2:52:00 AM

0 Boost

That company couple probably buy Nissan right now.

MDarringer - 2/14/2020 8:44:36 AM

+1 Boost

@SJD Theoretical inflated value does not equate to cash on hand, which Tesla most decidedly does not have.

SanJoseDriver - 2/15/2020 4:56:19 AM

+1 Boost

They could acquire in exchange for equity/stock without cash, but it would be more expensive and less likely to be approved by shareholders.

PUGPROUD - 2/14/2020 4:32:37 AM

+1 Boost

Tick Tock Tick Tock...There is a good possibility that with consolidation by the end of this decade there will only be one major independent car company in Germany, the US, France, Italy and Japan.

Vette71 - 2/14/2020 9:18:16 AM

0 Boost

Italy probably will not have one. Maybe a couple of major players in China.

TomM - 2/14/2020 7:52:54 AM

+2 Boost

Finances in large Japanese companies are unlike other countries and are harder to predict. If we assume the Coronavirus causes another quarter or two like this - the company will still have made money - more money than TESLA Made in its first two years - and it survived. SO will Nissan. But they run the risk of trying to cut costs and make their cars even cheaper than they already are.

malba2367 - 2/14/2020 10:01:51 AM

+2 Boost

They can’t really cut costs to get themselves out of this mess. Their current situation of poor product was caused by cost cutting of the precious CEO. This is the same situation that GM/Ford/Chrysler got themselves into
In the 1990s-2000s, and are just now working theirselves out of.

MDarringer - 2/14/2020 9:10:27 PM

-3 Boost

Nissan doesn't offer anything of value. Neither do Mitsubishi or Mazda.

malba2367 - 2/15/2020 10:32:48 AM

+2 Boost

There doesn't need to be a "death clock"...the Japanese government will bail out Nissan. There will need to be massive consolidation in the Japanese auto industry in the next 5-10 years which the government will orchestrate. The landscape will end with two conglomerates or deep alliances one will be Toyota and the other the merged Nissan and Honda. The smaller automakers will be folded into one of the two camps. There is no way that the Japanese industry otherwise would have the resources to develop EV and autonomous tech at six separate automakers.

skytop - 2/15/2020 5:22:48 PM

0 Boost

Autospies...don't push Nissan into the coffin.
Nissan has brought us many great cars. They just need some time to shore up their product line and regain profitability.

MDarringer - 2/15/2020 7:10:56 PM

0 Boost

"Nissan has brought us many great cars..."

Well, not "many" but "some" (510, 240Z, 2nd Maxima, Hardbody) but all of those are decades into the past.

Nissan has been building patently terrible cars for ages.

malba2367 - 2/15/2020 7:44:55 PM

+2 Boost

It is sad to see what has become of Nissan. The first car I bought after college was a 1999 Maxima SE...it was an awesome car and I still remember it fondly. I also had a 2004 Pathfinder and it was a great truck. Now almost everything Nissan makes is garbage.