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Infiniti will move back to Japan from Hong Kong in 2020

BEIJING – Nissan's premium brand Infiniti is relocating its headquarters back to Japan from Hong Kong, its home since 2012, to create "more operational efficiencies" with its parent company, according to a document seen by Reuters on Wednesday. The move planned for mid-2020, and expected to be publicly announced later on Wednesday, will help the Japanese automaker cut costs amid a slump in its global earnings in the year ended March 31. "The relocation will further integrate (Infiniti) with global design, research and development and manufacturing functions based in Japan," Nissan said in the statement, adding that Infiniti would continue to "operate independently". The move also was "crucial" for Nissan to follow through on its strategy to electrify the Infiniti lineup, the document said, with plans for every premium model launched from 2021 to be either all-electric or "e-Power" hybrid. A Nissan official, speaking on condition of anonymity, said that while there was a "fair amount of platform and other base technology sharing" between Infiniti and the main volume brand Nissan, "there could be more". Nissan's global operating profit plunged 45% in the last fiscal year and would likely drop another 28% to "rock bottom" in the current one, according to company filings earlier this month. Infiniti's move back to Japan will reverse a decision made under ousted leader Carlos Ghosn to dilute the premium brand's Japanese origins in order to foster a more global image. Its Hong Kong headquarters has about 180 employees who were told about the move back to Yokohama earlier on Wednesday, according to the Nissan official. The Hong Kong headquarters and the global image it was intended to promote were seen as critical for Infiniti to make inroads in China, where being Japanese can sometimes be a handicap because of historical animosities. In 2012, Infiniti and other Japanese brands took a battering in the wake of diplomatic spats over disputed islets known as Diaoyu in China and Senkaku in Japan. Since then, Japan's bilateral relationship with China has steadily improved and Japanese automakers including Nissan and Toyota are seeing their businesses expand, even as China's overall auto market has slumped over the past year. (Reporting by Norihiko Shirouzu; Editing by Stephen Coates)

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.

2022 Infiniti QX55 marks the company's foray into crossover 'coupes'

Using a formula proven by the major German luxury car companies, Infiniti is now getting in on the crossover "coupe" game. The 2022 Infiniti QX55 takes the QX50 small crossover and adds a fastback roofline for a sportier look. Infiniti says the design makes the QX55 a spiritual successor to the FX crossover of the mid-to-late-2000s and early 2010s. We're not sure if the mechanical bits live up to the rear-drive-based FX chassis, but the low roof and curvy body do share a connection to that old SUV. In fact, the QX55 looks rather striking, and the flowing lines work nicely with the simple, arcing roof. Some other small tweaks to the base styling emphasize the QX55's style focus including a more pronounced grille with larger air intakes surrounding it at the front. At the back, the license plate mount has been moved to the bumper, allowing for prominent Infiniti lettering on the hatch. Additionally, 20-inch wheels are a standard feature on all QX55 models. The rest of the QX55 is basically the same as the QX50. It shares the turbocharged, variable-compression engine making 268 horsepower and 280 pound-feet of torque. It's mated to a CVT and all-wheel-drive, which is standard on all QX55 models. The interior is carry-over with dual infotainment screens and an asymmetric, driver-focused dash design. Like the QX50, it can be slathered in two-tone leather for a very premium feel. The debut vehicle features a bold black and red color combination. The QX55 goes on sale this coming spring. It will be available in three trim levels: Luxe, Essential and Sensory. Pricing hasn't been announced, but expect it to be a bit more costly than the equivalent QX50. For reference, a QX50 Luxe with all-wheel-drive starts around $44,000, and at the other end of the spectrum is the QX50 Sensory with all-wheel-drive starting at around $53,000. Related Video: