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Nissan could report first quarterly loss since March 2009

TOKYO — Nissan may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn's ouster. Deteriorating profits underscore the challenges facing Nissan, which is unwinding many of the expansionist strategies championed by ex-Chief Executive Officer and Chairman Ghosn by slashing jobs, production sites and product offerings to save cash and ensure its survival. In addition to slumping sales, production disruptions caused by China's coronavirus outbreak could also drag profits lower. Three senior officials at Japan's No. 2 automaker told Reuters that they anticipate a poor results announcement on Thursday, with one of them calling the figures "dismal". Two of the officials cautioned that there is the possibility of an operating loss, which would be the first quarterly loss since the period ending in March 2009. Nissan said it could not comment on its financial results ahead of its official announcement. The company is likely to report operating profit of 48.6 billion yen ($442.5 million) for the quarter ending in December, less than half the 103 billion yen profit a year ago, according to SmartEstimate's survey of three analysts, who revised their forecasts in January. However, those forecasts were issued before the release of the December vehicle sales figures on Jan. 30, which show third-quarter sales dropped by 11% from the year earlier period, according to Reuters calculations. That is the biggest quarterly slump of its current sales downturn that began two years ago. That sales decline led one auto equities analyst based in Japan to scrap his forecast and also warn that Nissan could post a loss. "It will be a question of whether there will be a profit or a loss. For the quarter, a loss is a possibility," he said, declining to be named as his forecast had not been updated to reflect his latest view. One of the three Nissan officials said there is a risk the automaker may cut its full-year profit forecast of 150 billion yen, which would be an 11-year low. The company announced that forecast in November after an initial 230 billion yen outlook.

Airbag recall widens to include BMW, Chrysler, Ford and Toyota

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a roll in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time.
BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall.
Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands

2019 Infiniti QX60 Drivers' Notes Review | Past its prime

The 2019 Infiniti QX60 is a three-row crossover from Nissan's luxury brand. It's based on the Nissan Pathfinder, sharing the same basic platform and powertrain. It sits near the top of Infiniti's lineup, above the new QX50 and just below the body-on-frame QX80. That said, the car-based platform underneath the QX60 means its actually more spacious than its truck-based sibling. Power comes solely from a 3.5-liter V6 making 295 horsepower and 270 pound-feet of torque. All-wheel drive is available, though our tester was a front-wheel drive model. The 2019 QX60 starts $46,795, but our tester has nearly $20,000 worth of options. The $5,000 limited package adds upgraded leather on the seats and steering wheel, dark wood trim, 20-inch wheels and chrome trim on the exterior. The $3,400 proactive package adds safety features like lane-departure warnings, blind-spot monitoring, backup collision intervention and adaptive cruise control. Other options include back-seat entertainment ($2,150), a wifi hotspot ($495) and the $3,500 sensory package (a Bose audio system, ventilated front seats, heated second-row seats, a motion-activated liftgate and a moonroof for the second and third rows). Editor-in-Chief Greg Migliore: I'm immediately struck by the interior. It's quiet and comfortable. The quilted leather on the door panels is almost decadent. Infiniti is really going for it with this kind of interior styling. Some might say it's a little bit much, but generally, I think the company gets it right. Same with the outside. Infiniti tries to make a statement, and this swoopy, creased design is reason enough to buy the QX60. Our tester has the 295-hp V6, which is plenty capable. There's a lot of torque steer with the front-wheel-drive setup. It's kind of fun, but not really the dynamic most buyers are going for it. Overall, I like the QX60. It's big, comfortable, luxurious and powerful. Get AWD, though, as FWD in the snow is a little squirrely in something this large. Road Test Editor Reese Counts: Unlike Greg and Joel, I wasn't bowled over by the interior. I couldn't find a comfortable seating position for the life of me. The bottom cushion wasn't deep enough and the back seemed to protrude out at odd points into my spine. The leather looks and feels OK, but that was my only highlight. The overall interior design looks fat and boring, especially compared to models from Mercedes-Benz and Lexus. Just look at some of the details like the vents and steering wheel.