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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 SUV recall marks latest chapter in Takata airbag saga

Automotive parts maker Takata is having a rough year with millions of vehicles equipped with its airbag inflators being recalled. However, it looks like there might still be problems with the company's quality control, if a new recall by Infiniti is any indication.
The Japanese luxury brand is recalling 1,912 total units of the 2013 Infiniti QX56 and 2014 QX80 in North America because of a manufacturing flaw with their Takata-supplied inflators for the driver's side front airbag. Of those, 1,848 are in the United States, according to the National Highway Traffic Safety Administration. Specifically, the outer baffle could be the wrong component and cause too much pressure to build up inside. According to documents submitted to NHTSA, it's possible in a crash for the part to rupture spraying metal shrapnel at occupants. At this time, Infiniti has not had any reports of this actually happening to drivers.
While this problem sounds nearly identical to the issue affecting millions of earlier vehicles, it must be noted that this is a different fault. According to the notice being sent to dealers on NHTSA's website: "This particular Voluntary Safety Recall Campaign is unrelated to two earlier campaigns that involved Takata passenger front air bag inflators on some older model Infiniti vehicles. This issue involves a much newer inflator and is a different, more isolated, Takata quality control issue."

Infiniti Q50 sedan recalled over steering software glitch

The Basics: Infiniti will recall around 60,000 Q50 sedans globally due to a glitch in the software that controls the cars' direct adaptive steering system. It's this hardware and software that allows the Q50 to steer itself autonomously under certain conditions. A total of 28,182 Q50 sedans will be recalled in the US, with another 3,804 in Canada. We're not certain yet which model years will be recalled, but the direct adaptive steering debuted in 2014. The Problem: According to Infiniti spokesperson Stefan Weinmann, "in certain rare circumstances, just after starting the vehicle" a software glitch "can lead to a lack of steering responsiveness and change in turning radius." Injuries/Deaths: None reported. The Fix: Infiniti hasn't yet announced how it will fix the issue, but a software update seems likely. That means a trip to the dealership. If you own one: Expect to hear from the manufacturer later this month or next. Related Video: Featured Gallery 2017 Infiniti Q50S 3.0t Recalls Infiniti Safety Technology Autonomous Vehicles Sedan infiniti q50