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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 shows off the new Q50 engine lineup in Chicago

Infiniti has a raft of engine options it's rolling out on the Q50 sedan. We found out about most of them a couple of months ago, but they're now confirmed in all their turbocharged glory. And they'll all be showcased this week at the Chicago Auto Show. The base engine is a 2.0-liter turbo four based on a Mercedes design and built at the new joint-venture engine plant in Tennessee. The engine produces 208 horsepower and 258 pound-feet of torque and will be available in the Q50 2.0t in either rear- or all-wheel drive. If those specs strike you as familiar, they're the same that you'd find in the Mercedes CLA250 and GLA250, both of which similarly make their 4Matic traction optional, but come standard in front- (not rear-) drive form. Above the four-pot sits a new 3.0-liter twin-turbo V6 that replaces the naturally aspirated 3.7-liter unit and will be available in two states of tune. The 3.0t model offers 300 hp and 295 lb-ft, but the performance model – dubbed Q50 Red Sport 400 – cranks it up to 400 hp and 350 lb-ft. Both versions come mated to a seven-speed automatic transmission and either rear- or all-wheel drive. The fourth powertrain options carries over in the form of the Q50 Hybrid, which still pairs a naturally aspirated 3.5-liter V6 to a 50-kW electric motor for a combined output of 360 hp. So if you like your sports sedan to come with some manner of assist, the Q50 offers plenty of choices. But if you're in the atmospheric camp, we're afraid you'll have to look elsewhere. Related Video: Infiniti Presents Three New Q50 Sports Sedan Engines for the First Time at the 2016 Chicago Auto Show - Q50 Red Sport 400 offers new 400-horsepower VR-series 3.0-liter V6 twin turbo engine - Advanced 300-horsepower VR V6 twin-turbo version shown for the first time in Chicago - Pair of new V6 twin turbo engines joined by new 2.0-liter turbo inline-4 rated at 208 horsepower CHICAGO (Feb. 11, 2016) – Infiniti today revealed the full lineup of new advanced engines for its Infiniti Q50 sports sedan at the 2016 Chicago Auto, including two 3.0-liter V6 twin turbo engines and a 2.0-liter 4-cylinder turbo engine. The trifecta of new powerplants will be available beginning this spring. Joining the three new engine-equipped Q50 models – designated the Q50 2.0t, Q50 3.0t and Q50 Red Sport 400 – on display at the country's oldest and best-attended auto show are the redesigned 2016 QX60 crossover and the all-new QX30 premium active crossover.

Autoblog's Matt Davis named Infiniti global product and brand communications director

The door that separates automotive journalism and automaker PR swings both ways, and swings often as we see journalists move over to PR and vice versa. This time, however, it's one of ours.
That would be Matt Davis, longtime European correspondent for Autoblog and frequent contributor to numerous other publications including AutoWeek, Edmunds and Esquire. He was co-founder and longtime chairman of the World Car of the Year Awards, and serves on the jury for the International Engine of the Year awards as well. Matt has resided in Milan since 2001, writing for publications around the world in a number of languages, but will now be moving to Hong Kong.
That's where he will be taking up his new position as Global Director of Production and Brand Communications for Infiniti, which relocated its global headquarters to Hong Kong from Japan more than two years ago. In his new capacity, which he officially assumes on July 14, Davis will report directly to Infiniti's general manager of communications Stefan Weinmann.