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Thread: Nissan profits drop to near zero, 12,500 layoffs planned

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    Hubcap Enthusiast Scratchpaddy's Avatar
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    Nissan profits drop to near zero, 12,500 layoffs planned

    The past year was pretty bad for most of the car industry, but Mitsubishi's business buddy Nissan is doing especially badly. Operating revenue has fallen 13% in the past year, which leaves it with almost zero profit margin.

    Their focus in recent years on selling more, cheaper, cars, mostly to rental fleets, has left them with a reputation for cheap, boring cars. On top of it all, their former Chairman Carlos Ghosn was arrested in November on corruption charges.

    Current CEO Hiroto Saikawa is implementing an aggressive recovery plan, including 12,500 layoffs - 9% of the company's global workforce.

    Nissan will cut 12,500 jobs after profit plunges 99% - Automotive News

    A bumpy road for Nissan as profits plummet and layoffs loom - Marketplace



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    Senior Member dspace9's Avatar
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    Quote Originally Posted by Scratchpaddy View Post
    The past year was pretty bad for most of the car industry, but Mitsubishi's business buddy Nissan is doing especially badly. Operating revenue has fallen 13% in the past year, which leaves it with almost zero profit margin.

    Their focus in recent years on selling more, cheaper, cars, mostly to rental fleets, has left them with a reputation for cheap, boring cars. On top of it all, their former Chairman Carlos Ghosn was arrested in November on corruption charges.
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    Nissan might have a reputation for boring cars, but Nissan has lots of unique cars. Look at the Titan truck with the Cummins diesel. The 370z sports roadster and coupe. The Mirca 1.6 in Canada.

    In other reviews, I have heard quality has been an issue with Infiniti, Nissan's luxury brand.

        __________________________________________

        click to view fuel log View my fuel log 214 Mirage ES 1.2 manual: 39.8 mpg (US) ... 16.9 km/L ... 5.9 L/100 km ... 47.8 mpg (Imp)


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    Where's the leak ma'am? Marklovski's Avatar
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    Infiniti has always been for the younger generation like Scion, but those types of niche market brands seem to be dying off.

    Nissan should bring back the 240sx. They're going to have a big marketing campaign soon. But right now Mazda's marketing campaign with their new cars has been selling well. Wish I bought Mazda stocks before they released their new cars. Just buy stocks when its low.
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    Senior Member dspace9's Avatar
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    Quote Originally Posted by Marklovski View Post
    Nissan should bring back the 240sx. They're going to have a big marketing campaign soon. But right now Mazda's marketing campaign with their new cars has been selling well
    Mazda's cars right now seem way more ahead in terms of looks, compared to Nissan, or Infiniti. Even Lexus has their luxury GT coupe now that looks AMAZING.

    Nissan needs to gear more to the younger crowd like Mazda. But the Kicks and Juxe were supposed to do that.

        __________________________________________

        click to view fuel log View my fuel log 214 Mirage ES 1.2 manual: 39.8 mpg (US) ... 16.9 km/L ... 5.9 L/100 km ... 47.8 mpg (Imp)


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    Senior Member Subcompact Culture's Avatar
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    Quote Originally Posted by Marklovski View Post
    Infiniti has always been for the younger generation like Scion, but those types of niche market brands seem to be dying off.

    Nissan should bring back the 240sx. They're going to have a big marketing campaign soon. But right now Mazda's marketing campaign with their new cars has been selling well. Wish I bought Mazda stocks before they released their new cars. Just buy stocks when its low.
    No, Infiniti has always been an upscale luxury brand like Lexus is to Toyota.

    I would love to see Nissan bring back a niche RWD sports car, ala Toyota 86. However, companies struggling with cash don't generally offer up niche vehicles until they get back in the black.

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    Where's the leak ma'am? Marklovski's Avatar
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    Quote Originally Posted by Subcompact Culture View Post
    No, Infiniti has always been an upscale luxury brand like Lexus is to Toyota.

    I would love to see Nissan bring back a niche RWD sports car, ala Toyota 86. However, companies struggling with cash don't generally offer up niche vehicles until they get back in the black.
    Yes it was a luxury car mainly for people 35 and younger. They wanted it to seem cool rather than be an old mans car like other luxury brands. It worked for infiniti because all the younger guys want them. Infiniti is basically a luxury car brand for guys who like the 370z
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    Senior Member dspace9's Avatar
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    Quote Originally Posted by Marklovski View Post
    Yes it was a luxury car mainly for people 35 and younger
    Yea and when I think of Lexus, I think of retirement community in Florida. They run so smoothly, they're the cars people accidentally leave on in their garage, and end up dying of carbon monoxide poisoning inadvertently.

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        click to view fuel log View my fuel log 214 Mirage ES 1.2 manual: 39.8 mpg (US) ... 16.9 km/L ... 5.9 L/100 km ... 47.8 mpg (Imp)


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    Quote Originally Posted by Scratchpaddy View Post
    The past year was pretty bad for most of the car industry, but Mitsubishi's business buddy Nissan is doing especially badly. Operating revenue has fallen 13% in the past year, which leaves it with almost zero profit margin.

    Their focus in recent years on selling more, cheaper, cars, mostly to rental fleets, has left them with a reputation for cheap, boring cars. On top of it all, their former Chairman Carlos Ghosn was arrested in November on corruption charges.

    Current CEO Hiroto Saikawa is implementing an aggressive recovery plan, including 12,500 layoffs - 9% of the company's global workforce.

    Nissan will cut 12,500 jobs after profit plunges 99% - Automotive News

    A bumpy road for Nissan as profits plummet and layoffs loom - Marketplace
    If you manufacture junk, eventually you will start losing customers and sales. Nissan had a decent reputation in the past. I do not sense that today! I don't feel what models they offer is the problem here.

    If you owned a Nissan (paid good money for it) & the transmission failed, would you buy another one? I wouldn't buy another one even if it was replaced under warranty. Plus, I would be afraid to keep it for very long afterwards. I would be shopping for something else. If I had a friend or relative that had a bad experience with a Nissan, that would be enough to keep me away.

    Renault has not improved the image of Nissan or the quality of its products.

    Want customers? - make a good quality product at a good price & people will start coming around.

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    Senior Member Subcompact Culture's Avatar
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    Quote Originally Posted by Marklovski View Post
    Yes it was a luxury car mainly for people 35 and younger. They wanted it to seem cool rather than be an old mans car like other luxury brands. It worked for infiniti because all the younger guys want them. Infiniti is basically a luxury car brand for guys who like the 370z
    I have never heard or read that. The only one I know of that was specifically targeted at "younger" buyers was the G20. Shoot, I remember when they introduced the brand back in '89.

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    Senior Member Subcompact Culture's Avatar
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    Quote Originally Posted by Mark View Post
    If you manufacture junk, eventually you will start losing customers and sales. Nissan had a decent reputation in the past. I do not sense that today! I don't feel what models they offer is the problem here.
    I bought a 1999 Nissan Sentra SE-L. Build quality was iffy. It lots of stupid little things go wrong with it (luckily, few had anything to do with the SR20DE engine). But this was right as Nissan was faltering and was getting scooped up by Renault.

    To be honest, the Sentra wasn't my first choice; the Mirage LS was, but I couldn't get my hands on one. The new Protege was too pricey, as was the Impreza 2.5RS, so I looked at the Sentra. It was a lot of fun to drive, although it had the most uncomfortable seats I've ever owned in a car.

    The only Nissan I seriously considered buying after that was a Cube, but that never happened. I do still like the tried-and-true Frontier from a truck perspective.



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