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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.

The Infiniti Q30 is dead! Long live the Infiniti QX30!

Remember that Infiniti Q30 hatchback we drove last month? It's not coming to the US. But it also is coming to the US. Let us explain. Because of our crossover-obsessed culture, it's easier for automakers to brand new offerings as CUVs rather than hatchbacks. Take one five-door, front-wheel-drive car, add a teensy bit of ground clearance and all-wheel drive, and boom, success! So because the Q30 and ever-so-slightly higher-riding QX30 are so darn similar, Infiniti made the decision to just sell them both under the QX30 name. This might seem stupid to most, but to Infiniti – and the crossover-buying masses – this is actually a pretty logical move. The QX30 arrives in mid-2016. On the base end there's the standard QX30, then there's the lower-riding QX30S, and finally, the higher-than-standard-riding QX30 AWD. They all come with a 2.0-liter turbocharged four-cylinder engine and a seven-speed dual-clutch transmission. They're also practically identical to the Mercedes-Benz A-Class and GLA-Class, except for the swoopy sheetmetal. But even Mercedes sells its cars as two separate model lines. If you're not confused enough yet, feel free to read more in the press release below. Related Video: Infiniti announces QX30 line-up in the AmericasInfiniti QX30 Premium Crossover set to go on sale in mid-2016 NASHVILLE, Tenn. – Infiniti today announced the line-up of its all-new QX30 premium active crossover for the United States and Canada. While sharing basic exterior and interior designs, the QX30 line will be offered in three unique versions, each with its own front and rear fascia, wheel design and interior themes: QX30: The crossover's highly sculpted exterior, unique stance and asymmetric cabin design exemplify Infiniti's design-led approach to product development. This version is sold in Europe and other regions outside of the Americas under the Q30 name. In the Americas, this model will be front-wheel drive. QX30S: With a lower stance, aggressive front and rear fascia, cross-drilled front brake rotors, 19-inch wheels and performance tires, the QX30S is the sports version of Infiniti's new premium compact line. It was shown at this year's Los Angeles Auto Show and is sold in other markets as the Q30S. QX30 AWD: With an intelligent all-wheel drive system, slightly higher ride height and off-road inspired front and rear valence panels, the vehicle is able to take on urban, suburban and winding rural roads in all driving conditions.

Weekly Recap: An '80s encore in the auto world

The '80s returned in a big way this week, as National Lampoon's, Ghostbusters, Miami Vice, and even Tetris were back in the news. While there were far more serious topics (see below), nostalgia mingled with modern marketing to put these Reagan-era favorites back in the spotlight. The '80s were alternately cold and corny at times, but their cultural touchstones can still generate big money. That's why Infiniti recreated an iconic scene from National Lampoon's Vacation (1983) for an advertisement that hawks the QX60 crossover. Actor Ethan Embry, who played Rusty Griswold in a later Lampoon's movie, pilots the Infiniti – which is serving as a modern Family Truckster – for a trip to Walley World. A blonde pulls alongside in a red Lamborghini. They flirt, and she drives on. Christie Brinkley, who played the original girl in the red sports car (she drove a Ferrari in the '83 flick), is riding shotgun and chides Embry with: "A blonde. In a convertible. Seriously?" Okay, it's hardly on the level of "here's looking at you," or even "you can't handle the truth," but it should resonate with '80s babies, many of whom are now having children of their own and moving into three-row SUVs like the QX60. Naturally, Hollywood is going back to the well, too, with a Vacation remake that premiers July 29. Meanwhile, Ghostbusters is returning next year, and director Paul Feig offered a peak at the new Eco-1 in this tweet. In the 1984 classic, the team drove a modified 1959 Cadillac. Now, it will drive a late '80s Cadillac. As expected, the announcement generated support and controversy from movie and car enthusiasts. His tweet had generated several thousand retweets and favorites in the days following the news. Though the '80s Caddy looks, uh, less elegant in comparison to the now-iconic fins and curves of the original Ecto-1, it's about the same time lapse into the past as the '59 Caddy was to viewers in 1984. Speaking of 1984, Miami Vice, which debuted that year on NBC, is seeing one of its hero cars hit the auction block, Mecum Auctions announced this week. The 1986 Ferrari used on the show will be offered for sale Aug. 15 during Monterey classic car week. The white supercar runs a 390-hp flat 12-cylinder engine paired with a five-speed manual transmission and was in storage after the show ended in 1989 until earlier this year. It has 16,124 miles on the odometer and is authenticated by Ferrari North America and Classiche.