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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.

2013 Infiniti IPL G Convertible

Infiniti rolled out the IPL version of its G37 Convertible at the Los Angeles Auto Show more than a year ago. The Infiniti Performance Line treatment logically mirrors that of the IPL G Coupe, meaning it receives both cosmetic and mechanical tweaks designed to raise the pulse of driving enthusiasts. Aside from the overstated aerodynamic styling components and huge exhaust tips, the cabin features special leather upholstery, aluminum trim and IPL badging to distinguish it from lesser siblings. Under the hood, the 3.7-liter V6 (VQ37VHR) has been recalibrated to deliver 343 horsepower - 18 more than the standard coupe - and 273 pound-feet of torque. The suspension has been upgraded with firmer spring and stabilizer bar rates, multi-piston sport brakes are fitted and 19-inch graphite-finish wheels wrapped with summer rubber are bolted on. There are only two exterior color choices (Moonlight White and Malbec Black) and two upholstery choices (Stone and IPL-exclusive Monaco Red). Everything sounds marvelous until someone reveals its as-tested $62,415 window sticker.
DRIVING NOTES
The three-section steel roof raises and lowers in a leisurely manner - give it about 30 seconds each way. While it is marvel to watch, the operation seems clunky, not fluid. Buttoned up, with all four windows closed, the cabin is comfortable. Wind noise is minimal and the front buckets coddle passengers in all the right places. While tight, those of smaller stature will find the two rear seats tolerable for short journeys (my kids never complained). Outward visibility is also very good for a convertible - no impeding B-pillar.

Infiniti G37 to live on in showrooms alongside 2014 Q50

Infiniti is preparing to roll out its hotly anticipated 2014 Q50, a car that not only ushers in a new alphanumeric naming strategy, it ostensibly replaces the G37 as the brand's bread-and-butter sport sedan. That will happen, but not in the short-term, as the G37 will continue to be manufactured and sold alongside the Q50, at least for the rest of this year.
Infiniti spokesman Kyle Bazemore has confirmed to Autoblog that a decision is pending on how long to extend the G37 sedan's production run. "We're taking Q50 up a little bit, and that allows us to keep the G Sedan in the lineup... It [Q50] certainly started as a replacement, but it ended up being much more than that." Confusingly, Infiniti has already announced that the Q50 is to start at $37,605 (including $905 destination charge), yet the 2013 G37 is more expensive, starting at $38,255 delivered according to Infiniti's consumer website. Thus, a price drop on the G37 is likely coming in short order.
So why hold on to the older model? With the Q50 launching exclusively with V6 and Hybrid models (a turbo four and diesel are said to be in the cards down the road), Infiniti evidently feels it is risking leaving lower-end sales on the table. "There's a lot of movement with the [BMW] 320i and such, and this allows us a two-tier strategy to compete," says Bazemore. Keeping the G37 on tap at a lower price for fleet sale duty may also serve to protect the Q50 as it establishes itself on the market.