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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.

These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.

Infiniti Q Inspiration Concept shows its face

Update: Infiniti released a second image of its Q Inspiration Concept with a press release about sales. We're not sure why, but we're not complaining and have added it above. The original rear three-quarter image is below in the text. Following a teaser image and some cryptic hints from designers, Infiniti has mostly revealed its concept for the Detroit Auto Show. It's called the Q Inspiration Concept, which for having "inspiration" in the name, is actually a rather uninspired name. But that's OK, because what it lacks in clever naming it makes up for in a beautiful fastback body. When the teaser was released, one of the designers mentioned the car would have a "long cabin," and that's no exaggeration, as the greenhouse reaches nearly to the tail edge of the car. It's a roofline that is highly reminiscent of the Audi A7. And as such, it would make a lot of sense for this Infiniti to be a hatchback, too, especially if it reaches production. We can't say for sure if this concept has a hatch, though, since there are some panel gaps at the base of the D-pillar and the Tesla Model 3-style rear pane of glass suggests this concept is technically a sedan. Unlike the Audi A7, the rest of the Infiniti is as curvy as the roof. There's hardly a crease anywhere, and it looks muscular with the big bulging front and rear fenders that flow effortlessly into each other. The clean exterior is accented by a lack of exterior door handles and what look to be cameras for side mirrors. The contrast to the organic curves comes from the nose and the wheels. The area where the grille would be is more chiselled and aggressive than the rest of the body. The wheels also have hard edges and lots of complicated elements that don't quite fit the organic theme of the rest of the car. Still the car overall is very striking and graceful. The press release continues to emphasize new powertrains, proportions, and the future design direction of Infiniti. As such, we suspect that this car uses, at minimum, a version of Infiniti's variable-compression engine, and more likely features extensive electrification, if not a pure EV powertrain. The lack of a large opening at the front would seem like further evidence the car utilizes electricity at some level. The car will make its full debut on Jan. 15. Related Video: Image Credit: Infiniti Green Detroit Auto Show Infiniti Hatchback Luxury Sedan 2018 detroit auto show