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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 QX Inspiration fails to drive onstage at Detroit Auto Show reveal

Update: The concept car has made it to the stage, and is spinning on its dais. "Ladies and gentleman, the Infiniti QX Inspiration. It's here, but you can't see it," were the words spoken on the Infiniti stage as the new electric concept crossover's promo video ended. That's right, on Infiniti's 30th anniversary of existence — the brand was launched here in Detroit — its big reveal was never actually revealed at the Infiniti press conference. "It's a concept car," Nissan said lamentingly. Yes, it most certainly is a finicky concept car. We walked out of the hall to see the QX Inspiration sitting, with its hood up, unmoving with Infiniti folk milling around it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The press conference itself went on without the vehicle, though it was a bit anticlimactic without it. Pre-written lines were read, detailing small bits here and there that nobody managed to see. However, we were determined to see the car, and managed a short glimpse before being told to move along and wait for it to (eventually) make it onto the stage for photos. Check out all the details in our post that went up as Infiniti revealed all the details of the car, minus the actual vehicle. The design is quite striking, with a heavy Japanese tilt both inside and out. Once Infiniti gets it out there (we'll update when they do) we'll have shots of it from the swiveling dais it was meant to grace during the "official" reveal. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related video: Detroit Auto Show Infiniti Concept Cars Electric Luxury 2019 detroit auto show

Infiniti QX55 crossover coupe teased again, hints at FX looks and a surprise out back

Infiniti plans to launch five new vehicles in the next three years. We got an abstract squiggle of the first one in August, when Infitini teased the coming QX55 crossover coupe during Monterey Car Week. Said to act as a medium that would communicate design language from the dearly departed FX crossover, the QX55 is meant to infuse a lot more design mojo to the conventional QX50 crossover that it's based on. The Japanese luxury brand just dropped the second teaser, this one revealing a swath of greenhouse and shoulder, and indeed, an arc of chrome trim that could have been traced from FX production drawings. The attention-getter here is what comes behind the greenhouse: A tailgate extension with the makings of a stubby trunk.  Positive reviews have come from a group of media to whom Infiniti showed a matte gray pre-production version of the QX55. The front diverges from the QX50 only in a few details, while the roofline isn't as coupe-ish as it might be because designers wanted to ensure adequate headroom for rear seat passengers. The steep rake has been saved for the area aft of the C-pillar, convincing one scribe to write that "the QX55 reminds us most of the Audi Q8, which also lacks swooping silhouette and looks more like a lifted hatchback." The rear fascia is said to look "cleaner and more modern than Infiniti’s current midsize crossovers," even though the jutting rear presents a vertically flat lower hatch that looks "a bit boxy." Having moved the license plate holder to the bumper, the wide expanse is home to a larger Infiniti badge and logo script with an "I" that serves an as-yet-undisclosed function. At the edges come taillights with a "sharp new piano key design." One site summed up with, "this is a gorgeous crossover coupe that will turn heads." The QX50 is expected to debut in the first three months of 2020, with an on-sale date sometime next summer.