Nissan Motor Co slashed its full-year profit forecast to its lowest in nearly a ...
TOKYO - Nissan Motor Co slashed its full-year profit forecast to its lowest in nearly a decade due to weakness in the United States, just as it adjusts to life without Carlos Ghosn and charts its future with alliance partner Renault SA.
In a statement on Wednesday, Nissan said sales had taken a hit in the aftermath of the arrest of former Chairman Ghosn, contributing to a decline in profit to its lowest since the year ended March 2010. Saikawa has since pledged to stop chasing share and instead focus on improving profit margins. The automaker has also turned it focus to China as its next major growth market, albeit just as vehicle sales in the world’s biggest auto market have slowed.
While Nissan’s troubles could raise the need for stronger co-operation with Renault, the Japanese automaker appears to be resisting closer ties with a partner it exceeds in both vehicle sales and profitability.
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