Nissan makes a number of interesting vehicles, from the peppy Altima sedan, the stylish Rogue crossover, the Titan pickup, and the all-electric Leaf. Plus there’s always the small and powerful 370Z coupe or roadster models to rip up the pavement.
Unfortunately for the Japanese automaker, sales have taken a hit of late. According to Reuters, the company is set to report its first quarterly loss since 2009 this week. Along with slumping sales that are affecting auto sales around the world, Nissan is still struggling to rebuild in the wake of former CEO Carlos Ghosn’s exit.
“In addition to slumping sales, production disruptions caused by China’s coronavirus outbreak could also drag profits lower.
“Three senior executives at the automaker told Reuters that they anticipate a poor results announcement on Thursday, with one of them calling the figures “dismal.”
The company originally forecast a quarterly operating profit of $442.5 million. However, December sales tanked 11 percent and many experts are now expecting Nissan to post a loss. While it’s a tough pill to swallow for Nissan after a decade of profitable quarters. The news dropped Nissan’s stock price to 577 per share on the Tokyo stock exchange, which represents the lowest it’s been in more than five years.
The good news is that 2019 was still a solid year for Nissan. The first three quarters posted profits on the backs of 3.81 million cars sold. While the company is going to fall short of their original targets of 5.24 millions cars sold and foretasted profit of $2.3 billion, at least they aren’t actively losing money yet.