Carmaker Nissan Posts Huge £1.6bn Loss

Source: Sky News

Nissan has posted a £1.6bn annual loss and will stay in the red this year as car sales slump globally.

The Japanese carmaker sold about 3.4m vehicles worldwide in the year to 31 March 2009, down 9.5% on the previous 12 months, with the biggest fall seen in the US market.

However the loss was less than expected as Nissan had previously forecast the loss would £1.72bn.

The company, which is 44% owned by French carmaker Renault, added it expected to make a net loss of £1.14bn in the next financial year.



Read more: http://news.sky.com/skynews/Home/Business/Japanese-Carmaker-Nissan-And-Electronics-Giant-Hitachi-Post-Huge-Losses-In-2008-To-2009/Article/200905215279960

Ghosn is gonna take the chainsaw to the company workforce again...

:evilgrin:

I loved that car so much!

:loveya:

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This reminds me of a joke I heard years ago about how Datsun got its name:
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The Nissan executives argued long and mightily about what to call the cars they were importing to America.

Finally, one executive suggested that they contact the Germans for assistance. Germans were very good at coming up with names.

Japanese executives sat down with a German marketing firm and explained their predicament. The Gemans mulled it over for a while and decided to ask some questions about the cars.

First they asked about the different varieties of cars, the power trains and gas mileage. Then they asked about the design team and manufacturing process. Unable to restrain himself from bragging, a Japanese executive told the Germans about Nissan's innovative new manufacturing process.

He bragged that from design to finish product only takes three days. The Germans were clearly impressed.

One of them said "Dat soon?" (That soon?), hence the name.

I didn't know that, and suddenly my opinion of Nissan quality went down 44%. I'm serious, I know it's not rational, if my perception of Nissan quality was based on the experiences of friends and family then finding out it is owned by Renault or Yugo shouldn't make any difference- but it does.

It automatically turned me off from the Nissan brand.

No idea if Peugeot and Renault are related, but while having my mom's car serviced, I read that Kia actually built my Peugeot 604.

nissan was in very bad shape until that deal was struck