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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.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Infiniti showcases Vision Gran Turismo concept in the metal

Automakers have been clamoring to convey their ethos to a new generation and cast their brand in a positive light through the Vision Gran Turismo series. But while these concepts are designed for the virtual reality of Gran Turismo 6, some automakers have gone a step further by pulling their creations out of cyberspace and rendering them in the metal. And that's just what Infiniti has done with its design. Infiniti revealed its Concept Vision Gran Turismo back in December, striking a a sleek, low-slung form that looks more polished than a racing car but more track-focused than most concepts. It's powered (at least hypothetically) by a 4.5-liter V8 hybrid powertrain, with center-lock carbon-fiber wheels and rearward-biased 45/55 weight distribution. It's the kind of beast we'd love to drive, but while that may only be possible on Playstation, at least we know it does exist in physical reality – even if only as a full-scale model. Infiniti showcased it alongside the Q80 Inspiration and Q60 Concept at an exclusive event during the Shanghai Motor Show last week, but just revealed the photos now, so you can scope them out in the slideshow above. Related Video: Show full PR text INFINITI VISION GT DISPLAYED OUTSIDE ITS ONLINE WORLD FOR THE FIRST TIME SHANGHAI, China – Last week at the 2015 Shanghai auto show, Infiniti held its inaugural Infiniti Design Night ahead of Auto Shanghai 2015. The evening occasion took place at the Shanghai Himalayas Art Museum. Under the theme of "Aesthetics of Contrast," Infiniti Design Night showcased three design concepts showing an exciting path to Infiniti's future: the Q80 Inspiration (first shown in Paris, October 2014), Q60 Concept (Detroit, January 2015), and the Vision Gran Turismo designed especially for the latest Gran Turismo® 6™ video game. This was the first time the Vision GT was displayed as a real "flesh and bones" concept car, having only been seen and experienced digitally in GT6 prior to this event. The dramatic Infiniti Concept Vision Gran Turismo The Infiniti Concept Vision Gran Turismo is a vision of what a high performance Infiniti could look like in the future. Available for download in GT6 exclusively on the PlayStation®3 system, it was created through close collaboration with the creators of Gran Turismo®, the racing game franchise developed by Polyphony Digital Inc. that has sold more than 72 million copies worldwide.