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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.

Apple iTunes Radio picks Nissan as first automotive launch partner

With the launch of iOS 7 last week, those who carry around a certain fruit-branded cellphone got access to a new technology called iTunes Radio. Apple's delayed entry into a market currently dominated by service such as Spotify and Pandora, iTunes Radio allows users to create their own stations or to choose from a number of featured stations. From there, listeners can fine tune their results to deliver more popular songs or newer, deeper tracks. Each song is linked back to the iTunes store, allowing users to easily buy songs they fall in love with.
Now, Nissan has teamed with Apple as the exclusive launch partner for iTunes Radio. This partnership means you'll be seeing some Nissan-specific content when you're surfing through iTunes Radio, with some subtler stuff in the form of material and some not-so-subtle approaches, like Nissan's use of iAd, a system that allows developers to directly insert advertisements into apps. The focus at first will be on the upcoming Rogue, the redesigned Versa Note and the Leaf EV.
Nissan's vice president of marketing in North America, Jon Brancheau, explained the team up, saying, "We see iTunes Radio as an integral part of our new vehicle launches and 'big moments,' riding the wave of interest and usage of this exciting new service to maximize exposure of Nissan's new models." Take a look below for the rundown from Nissan.

Nissan adds 500 jobs in Mississippi for Murano production [w/video]

Nissan is bolstering its workforce at its Canton, MS factory, adding 500 workers for this fall's production kickoff of the heavily redesigned Murano crossover.
"The addition of Murano to our portfolio, coupled with the continued growth and success of the Canton plant, will move us even closer to our goal to build more than 85 percent of the vehicles we sell in the US right here in North America," said senior vice president of manufacturing, supply chain management and purchasing for Nissan's North American ops, John Martin.
The Murano will eventually be exported to over 100 markets and will be built alongside the current Xterra, Frontier, Titan and Armada. The addition of 500 jobs to the Canton facility elevates its total workforce past 6,000 people.