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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 to display special Q60 convertible celebrating Unser at Amelia Island

Bobby Unser is one of the great American racing drivers of his generation, having won the Indianapolis 500 in 1968, '75 and '81 and belonging to the Unser racing dynasty. But he might be getting the oddest tribute of his life at the 2014 Amelia Island Concours d'Elegance. Infiniti has created a tribute to his Indy-winning 1968 car out of a Q60 Convertible (previously the G37), and he will be driving it around the event.
The Infiniti is wrapped in red, gold, black and white livery with the number 3 designed by the company's design director Alfonso Albaisa. While the connection seems dubious, Offenhauser-powered racecars are one of the featured vehicles at this year's concours, and the Japanese luxury automaker worked with the Indianapolis Motor Speedway Hall of Fame Museum to bring Unser's 1968 Eagle, which used an Offenhauser engine and flew those colors, to the show. The brand wanted a car of its own to match... no matter how outlandish it looked.
Honestly, while certainly a nice gesture, the choice still seems a bit weird. At least visitors will get the chance to see American racing royalty and his winning car. Scroll down to read Infiniti's full explanation for their effort.

Infiniti EV delayed to add better tech

An evolution in lithium-ion batteries and "interesting advances in electric technology" are said to be responsible for the delay of Infiniti's electric car, the production version of the LE concept first shown at the New York Auto Show in 2012. At the time of its introduction, Infiniti said we'd have a version we could buy within two years; that timeline became 2015, and now Automotive News Europe reports that it's"still within in our mid-term plan" but officials aren't saying how long the delay will be.
When shown, the LE had a 24kWh lithium-ion battery and a 100kw electric motor producing 134 horsepower and 240 pound-feet of torque, a 100-mile range and the potential for wireless charging. It isn't clear if the postponement will bring improved specs or perhaps improved packaging and technology - or both. All we have for now is that the new timeframe is "not significantly" beyond the original plan.