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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 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.

Infiniti Q60 Coupe spied in production guise

Here is the best news we've had all day: the production Infiniti Q60 Coupe will bear an uncanny resemblance to the concept car that previewed it earlier this year in Detroit. We know this thanks to our very first round of spy photos of the heavily camouflaged production car. Although there are only three images to draw from, we've got a clear picture of the concept-inspired lines of this new two-door. In particular, the front and rear fascias look to draw a lot of inspiration from the concept. In front, the headlights look to be similar in shape, while the double-arch grille looks largely unchanged from what the company previewed. Perhaps the biggest change up front is around the fog lights, which look to sit in far more conventional housings. Also gone is the Q60 Concept's Formula One-inspired chin, possibly in part due to the company's (and parent Renault's) perilous position as a title sponsor for the Red Bull Racing team. The taillights reinforce the concept car inspiration, retaining a similarly svelte shape and tying in with a small trunk lid. Also like the Q60 Concept, our spies report that a twin-turbocharged, 3.0-liter V6 will be on offer, likely as the range-topping engine. We'd expect the volume motor to be the Mercedes-Benz 2.0-liter, turbocharged four-cylinder found in the likes of the new Q30, as well as the CLA-, GLA-, and A-Class. It's also certainly possible that Infiniti's long-serving 3.7-liter V6 will be available in some form. Whatever engines arrive, we can expect six-speed manual and seven-speed automatic transmissions to be the sole options. Have a look at the photos up at the top of the page. And for comparison's sake, we've included the official Q60 Concept gallery down below just under the video showing a 360-degree view. Take a peek at both and let us know what you think of Infiniti's work.