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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 plans overhaul of infotainment system by 2021

Infiniti is working on a fully overhauled infotainment system starting in 2021 that will feature bigger displays but retain the current dual-touchscreen setup. In the meantime, upgrades including Apple CarPlay and Android Auto connectivity will be added to existing systems starting next year, depending on the market. "Next year is going to be the first step of improvement," Infiniti's vice president of product strategy, Francois Bancon, told Australian outlet GoAuto. "And as we move forward with a bigger display, 12.0-inch, 15.0-inch, whatever, of course we are going to improve the accuracy." He also indicated that "only the media" complains about the dual-screen display and that customer feedback has been strong. "The appearance of the system, for example in QX50, which is the same as in Q50, we're not going to change. But we just redesign the whole system behind more capacity, faster reaction time, high-definition display and full connectivity." So the new system will keep the dual-screen setup, which today involves the top screen handling mostly navigation and redundant audio information while the lower screen is used to control vehicle, phone and audio functions (see the below video for more info on how it works). The QX50, which goes on sale in the United States later this year, will also be the first Infiniti to get a 9-inch color head-up display on the windshield, plus smartphone mirroring and data-derived weather and other apps. The rollout of a new infotainment system coincides with Infiniti's plan to build its first all-electric car in 2021 and release hybrids based on Nissan's e-Power technology. Parent company Nissan has said it wants to sell 1 million electric vehicles annually by 2022. Related Video:

Infiniti looking for a new boss after Christian Meunier leaves to lead Jeep

Nissan's premium division Infiniti is expected to announce a new acting global chief for the brand, the company said, after its current head, Christian Meunier, left to lead the Jeep unit of Fiat Chrysler Automobiles. Nissan's chief quality officer Christian Vandenhende will oversee Infiniti's global operations effective immediately, until a new brand chief is named, Infiniti said in the statement on Tuesday. Meunier, 51, was named Infinit's global chief in early January after its previous boss Roland Krueger left the Hong Kong-based brand. Meunier will take over as global president for SUV-focused Jeep effective immediately, Fiat Chrysler said in a separate statement. Fiat Chrysler CEO Mike Manley had been running Jeep until he was elevated to the top job in July after the death of Sergio Marchionne. Meunier has international experience from his years with Ford, Land Rover, Nissan and Infiniti, which may prove valuable as Jeep attempts to expand overseas with a lineup of new products including the Gladiator pickup, a Wrangler plug-in hybrid, and the revived Wagoneer and Grand Wagoneer nameplates. He's worked mostly in sales and marketing roles, including as senior vice president of sales, marketing and operations for Nissan North America; chairman of Nissan Canada; and his recent role heading up Infiniti. An Infiniti spokesman said Meunier's resignation was not related to Nissan's internal investigation into its former leader Carlos Ghosn.