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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.

Is Infiniti shelving plans for Q50 Eau Rouge super sedan?

If you've been looking forward to Infiniti putting the Q50 Eau Rouge concept into production, we've got what could be bad news for you, because word has it that Infiniti may be shelving its super-sedan project. This, according to Infiniti's former chief executive Johan de Nysschen (now head of Cadillac) in a private Facebook post cited by Jalopnik. According to the post, de Nysschen "heard a rumor that Noboru Tateishi is going to cop-out and shelve the Eau Rouge project now that I'm not there to pressure him." Tateishi is a senior engineer and corporate vice president at parent Nissan who, in de Nysschen's estimation, has "more enthusiasm for 'driver's aid's,' apparently, than 'driver's cars.'" Named for a famous corner at the Spa-Francorchamps circuit in Belgium, the Eau Rouge is a concept version of the Infiniti Q50 sedan. It bowed first at the Detroit Auto Show almost a year ago and then showed up in Geneva with the 560-horsepower, 3.8-liter twin-turbo V6 beating heart of a Nissan GT-R. Rumors ever since have hinted heavily at the Eau Rouge making production, with Infiniti going so far as to allow the automotive media – including us – the chance to drive a prototype of the would-be model. But without Johan (or, for that matter, former Infiniti chairman Andy Palmer, now head of Aston Martin) there to see it through, the may just be grinding to a halt – or perhaps de Nysschen is just giving his former colleagues a good ribbing. We've reached out to Infiniti to learn more, and we'll update as soon as we hear back from them. Featured Gallery Infiniti Eau Rouge Prototype View 25 Photos News Source: JalopnikImage Credit: Copyright 2014 AOL Infiniti Concept Cars Performance Sedan infiniti q50 infiniti q50 eau rouge infiniti q50 eau rouge concept

Formula 1 seeking independent engine supplier

Formula 1 could get a new engine supplier in the near future, if Bernie Ecclestone and the independent teams gets their way. According to Autosport, the FIA is soon to open the contract up for bids, and there are already several manufacturers that have expressed interest. Currently Mercedes, Ferrari, Renault, and Honda supply engines – both to their own premier teams (Red Bull and McLaren for the latter two) but also to other teams like Williams, Sauber, and Toro Rosso. Because the new turbocharged V6 hybrid power units cost those four suppliers so much to develop, they're charging their customer teams big bucks – around $20-30 million per season – to provide the engines. These costs are much higher than the $10 million or so it used to cost to purchase a V8 engine under the previous regulations. Ecclestone figures it's time to bring in another supplier who will not run their own team and not play favorites, but will supply engines to private teams at a lower cost. There are already a number of potential suppliers under consideration. One of them is said to be Cosworth, which has a long history in the series stretching back to 1963. The British firm stepped back between 2007 and 2009, returned in 2010, and dropped out again after 2013. The development could be of particular benefit to Red Bull, which has been unable to find an engine supplier and could be forced out of the series as a result. The team has long been powered by Renault, but that relationship has grown sour. And the other three engine manufacturers have not been forthcoming in offering an alternative arrangement for the team. Related Video: News Source: AutosportImage Credit: Cosworth Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz Renault F1 engine contract