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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.

'Car Wars' says Ford, Honda to pick up share, Fiat-Chrysler ambitions downplayed

Don't look for a tremendous shifts in automotive market share over the next three years because it might not be coming. That's at least according to the annual Car Wars report by John Murphy, from Bank of America Merrill Lynch Global Research.
In the report's analysis of automakers' market share from 2013 to 2017, it predicts only small changes among the major companies. Ford and Honda see the biggest positive effect with an estimated 0.5 percent increase in their shares over the next three years; to 16.2 percent and 10.3 percent respectively. On the flip side, European automakers and Nissan are expected to lose 0.2 percent each to fall to 8.3 percent and 7.8 percent each respectively. The rest of the industry is predicted to hold steady as it is now.
The biggest loser in that prediction might be Fiat-Chrysler Automobiles. The report certainly throws a wet blanket on its plan for significant gains in market share. Murphy told The Detroit News that the company's goal was "almost unattainable."

Nissan Leaf's lead over Renault Zoe narrows in Europe

The Nissan Leaf has seen its sales steadily decline in the US for a while now. Here, its been eclipsed by the second-generation Chevrolet Volt extended-range plug-in while people await the next-generation version of the all-electric Leaf. The EV may be starting to receive a similar response across the Pond. While the Leaf remains Europe's biggest-selling EV, that lead is eroding, as sales of the Renault Zoe are catching up, according to the European Alternative Fuels Observatory (EAFO). It's a good thing Nissan and Renault are sister companies. Through May, Nissan sold about 9,500 Leaf vehicles in Europe. The good news is that number is up 37 percent from a year earlier. There's disconcerting news, too, and that is that the Renault Zoe's sales have surged 60 percent this year to almost 9,400 units. So, for all we know, the Zoe may have caught up with the Leaf last month. Still, both models are outpacing demand for the Tesla Model S and Volkswagen e-Golf: the former's sales are little-changed this year, while the latter model's sales have dropped 34 percent. The BMW i3, Kia Soul EV, and Mercedes-Benz B250e all have had higher sales this year. As for plug-in hybrids, the Mitsubishi Outlander PHEV has maintained its substantial European lead, almost doubling sales of the Volkswagen Golf GTE and totaling almost 9,400 units sold through May. Meanwhile, the new Volvo XC90 PHEV has leapfrogged models such as the Volkswagen Passat GTE, Mercedes-Benz C350e, and Audi A3 e-Tron into third place behind the Mitsubishi and VW. Here in the US, Nissan Leaf sales through June fell 41 percent from a year earlier to about 5,800 units, while Chevrolet Volt sales have surged 75 percent to 9,808 units. Featured Gallery 2016 Nissan Leaf View 30 Photos News Source: EAFO, Getty via Green Car Reports Green Nissan Renault Electric ev sales zoe