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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.

Infiniti signs four-year deal to become title sponsor of Red Bull Racing

The chief of Infiniti's Formula One motorsport involvement, Andreas Sigl, said just last week that the brand was "going longer and deeper" into its collaboration with Red Bull, and the proof has already come: the Japanese luxury brand has signed a four-year deal to become the title sponsor of Red Bull Racing. From next year the team will be Infiniti Red Bull Racing.
The move cements Infiniti's intention to make the most of the already-ongoing technical collaboration it has had with Red Bull Racing for two years - this year Milton Keynes team has been testing Infiniti's Scratch Heal paint for aero properties and during the young driver test it used KERS batteries that were wholly developed by Infiniti's parent company, Nissan.
Earning a tip of the hat for not giving into cheap-trick branding, the engines will continue to be branded as Renault. Renault/Nissan CEO does not "want any confusion within the Alliance as to who does what."

Nissan recalling GT-R, Infiniti crossovers over steering column issue

Nissan has discovered a problem with the steering column on some of its higher-end all-wheel-drive vehicles from a few years back, and has issued a recall in conjunction with the National Highway Traffic Safety Administration to address the issue. The issue revolves around the outer tube on the steering column, which may not be perfectly round. That would put extra stress on the upper steering bearing, which could cause it to fracture, disabling the car's steering ability and potentially leading to a crash. The problem affects Nissan's flagship GT-R supercar – specifically 2009 models manufactured between March 14, 2007, and April 25, 2008) as well as an array of Infiniti crossovers: namely the 2008 EX35 and the 2008-09 FX35 and FX45. In the case of the luxury crossovers, Infiniti dealers are being instructed to replace just the steering shaft, but Nissan dealers will have to replace the entire steering column assembly on the GT-R. All told, the recall is estimated to encompass 16,973 vehicles across the United States. RECALL Subject : Steering Column Tube may be Out of Round Report Receipt Date: FEB 02, 2015 NHTSA Campaign Number: 15V054000 Component(s): STEERING Potential Number of Units Affected: 16,973 Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2008 Infiniti EX35 vehicles manufactured June 29, 2007, to April 25, 2008, 2009 Infiniti FX35 and FX45 vehicles manufactured October 31, 2007, to April 16, 2008, and 2009 Nissan GT-R vehicles manufactured March 14, 2007, to April 25, 2008. The steering column outer tube may not be round, resulting in extra stress being applied to the upper steering bearing. This stress may cause the bearing retainer to fracture, creating extra play in the steering wheel or a possible loss of steering. CONSEQUENCE: Extra play in the steering wheel or a loss of steering may increase the risk of a crash. REMEDY: Nissan will notify owners, and dealers will replace the steering shaft on the Infiniti EX35, FX35, and FX45 vehicles, and will replace the steering column assembly on the Nissan GT-R vehicles, free of charge. The manufacturer has not yet provided a notification schedule. Infiniti owners may contact customer service at 1-800-662-6200. Nissan owners may contact the GT-R hotline at 1-866-668-1487.