sexta-feira, 8 de novembro de 2024

Nissan Shares Tumble After Cutting 9,000 Jobs and Halving CEO Pay

 Nissan Motor Co.’s struggles to cope with tougher car industry conditions and address internal weaknesses have spiraled, leaving the automaker no choice but to slash payroll, production and its forecasts for this fiscal year.

Shares in the Japanese manufacturer fell the most since August on an intraday basis after saying it will dismiss 9,000 workers and cut a fifth of its manufacturing capacity after net income plummeted 94% in the first half. Nissan also will sell off some of its stake in Mitsubishi Motors Corp. after burning through ¥448.3 billion ($2.9 billion) in cash the last six months.


Nissan’s shares fell as much as 10% in early morning trading in Tokyo on Friday, to their lowest since October 2020.


The calamitous results will prove costly for Chief Executive Officer Makoto Uchida, who’s forfeiting half his compensation starting this month. The CEO told investors Nissan has been affected “not only by external challenges, but also by our specific issues,” alluding both to the breakneck rise of Chinese automakers and Nissan setting overly ambitious sales targets.


“Meeting our sales goals will be a challenge,” Uchida said. “We need to rebuild our strength so that we can pivot toward a more positive direction.”

Nissan now sees its operating income plunging to just ¥150 billion in the fiscal year ending in March, down 70% from its previous forecast. Management also lowered their revenue outlook by more than 9%, meaning they now expect virtually no growth for the year.


Uchida has been at the helm since 2019, when Nissan was facing an existential crisis in the wake of former chairman Carlos Ghosn’s departure. He’s had trouble righting the ship while facing stiff competition from the likes of Tesla Inc. and China’s BYD Co., rendering the company a laggard among major Japanese automakers.


“Nissan is the weakest one,” said James Hong, an analyst at Macquarie Securities Korea. “The only way for the company to improve sales is through price cuts.”

Nissan sells portion of Mitsubishi Motors’ shares

 November 7, 2024

 

YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced sale of up to 149,028,300 shares (approximately 10.02% of Mitsubishi Motors Corporation (MMC) the total number of issued shares (excluding treasury shares)) reducing its current 34.07% stake (506,620,577 shares) in MMC.

The shares are scheduled to be sold at today's closing price (including the final special quotation) of 460.6 yen through the Tokyo Stock Exchange's off-floor purchase trading for treasury stock (ToSTNeT-3) at 8:45 AM on November 8, 2024.

This transaction will support MMC’s management strategy as well as enhance Nissan's financial flexibility, paving the way for future growth opportunities.

Nissan and MMC will continue their collaborative efforts to drive innovation and deliver exceptional value to their stakeholders. Together, the Alliance companies are actively engaged in high-value creation projects that respond to evolving industry trends.

Nissan reports first-half results for fiscal year 2024

  Full fiscal year 2024 forecast revised downward

• Announces turnaround actions to stabilize and right-size the business while reinforcing product for profitable growth

 

YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the six-months ended September 30, 2024, and revised its full year financial outlook for fiscal year 2024.

 

Fiscal year 2024 first-half financial results
Consolidated net revenue decreased by 79.1 billion yen to 5.98 trillion yen, with consolidated operating profit decreasing 303.8 billion yen to 32.9 billion yen, representing an operating profit margin of 0.5%. Net income1 was 19.2 billion yen.

Global sales volumes decreased year-on-year to 1.6 million units. Profitability was affected by higher selling expenses and inventory optimization efforts, particularly in the US, along with rising monozukuri costs.

The following table summarizes Nissan’s financial results for the first half of fiscal year 2024, calculated under the equity accounting method for the group’s China joint venture.

 

TSE report basis – China JV equity basis2

Yen in billionsFY23 first halfFY24 first halfVariance
vs FY23
Net revenue6,063.35,984.2-79.1
Operating profit336.732.9-303.8
Operating margin %5.6%0.5%-5.1 points
Ordinary profit412.7116.1-296.6
Net income1296.219.2-277.0

Based on average foreign exchange rates of JPY 153/USD and JPY 166/EUR for FY24 H1

 

Fiscal year 2024 second-quarter financial results
Consolidated net revenue was 2.99 trillion yen in the three-month period to September 30, 2024, with consolidated operating profit of 31.9 billion yen and net income of negative 9.3 billion yen. The following table summarizes the results for the second quarter of fiscal year 2024, calculated under the equity accounting method for the group’s China joint venture.

 

TSE report basis – China JV equity basis2

Yen in billionsFY23 Q2FY24 Q2Variance
vs FY23
Net revenue3,145.72,985.8-159.9
Operating profit208.131.9-176.2
Net income1190.7-9.3-200.1

Based on average foreign exchange rates of JPY 150/USD and JPY 164/EUR for FY24 Q2

 

FY2024 outlook
Nissan has revised downward its full year outlook for fiscal year 2024. The updated projections anticipate net revenue to be 12,700 billion yen. Operating profit is expected to reach 150 billion yen. Net income is to be determined (TBD*) due to ongoing assessment of costs necessary for the planned turnaround efforts.

The company has filed the following fiscal-year outlook with the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecasts for the fiscal year ending March 31, 2025, are:

 

TSE report basis – China JV equity basis2

Yen in billionsPrevious FY24
outlook
Revised FY24
outlook
Variance
vs previous outlook
Net revenue14,000.012,700.0-1,300.0
Operating profit500.0150.0-350.0
Net income1300.0TBD*-

The average foreign exchange rates for the revised fiscal year 2024 outlook have been revised to the premise of JPY 149/USD and JPY 164/EUR from JPY 155/USD and JPY 167/EUR for previous outlook.

 

Due to the revised financial forecast for the fiscal year, the board of directors elected not to pay an interim dividend. The previous year-end dividend outlook has been removed and will be determined in conjunction with the recovery of the business. Nissan will continue to prioritize financial discipline as an essential component of the Arc business plan.

 

Turnaround actions

Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market.

To achieve healthy growth in the future, the company will implement a structure to secure sustainable profitability and cash generation, even with a projected annual sales of 3.5 million units by fiscal year 2026. While ensuring diligent execution of the Arc business plan, Nissan seeks to enhance investment efficiencies and product competitiveness through strategic partnerships with Renault Group, Mitsubishi Motors Corporation (MMC), and Honda Motor Co., Ltd. It’s turnaround actions include:

 

Stabilize and right-size business
Nissan aims to reduce fixed costs by 300 billion yen (compared to FY2024) and variable costs by 100 billion yen (compared to FY2024) while maintaining a healthy free cash flow.

To achieve this, Nissan will cut global production capacity by 20% and reduce its global workforce by 9,000. The company is implementing various measures to lower selling, general, and administrative expenses, decrease the cost of goods sold, rationalize its asset portfolio, and prioritize capital expenditures and investments in research and development.

CEO Makoto Uchida will voluntarily forfeit 50% of his monthly compensation starting in November 2024 and the other executive committee members will also voluntarily take a pay reduction accordingly.

 

Reinforce product competitiveness and ensure growth
Nissan will accelerate some of the plans under The Arc to capitalize on market opportunities.

The company plans to advance the introduction of new energy vehicles in China, and plug-in hybrids and e-POWER in the US, while simultaneously increasing sales per model to enhance model efficiencies.

Nissan aims to reduce vehicle development lead time to 30 months and deepen collaboration with Renault Group, Mitsubishi Motors Corporation (MMC), and Honda Motor Co., Ltd., while exploring more strategic partnerships in the areas of technology and software services.

To facilitate swift decision-making for the turnaround actions, Nissan will appoint a Chief Performance Officer responsible for sales and profit, effective December 1.

Nissan President and CEO Makoto Uchida said: “These turnaround measures do not imply that the company is shrinking. Nissan will restructure its business to become leaner and more resilient, while also reorganizing management to respond quickly and flexibly to changes in the business environment. We an aim to enhance the competitiveness of our products, which are fundamental to our success, and set Nissan back on a path of growth. As a cohesive team, we are dedicated to working together to ensure the successful implementation of our plans.”

 

1 Net income attributable to owners of the parent

2 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong Feng-Nissan’s results in revenue and operating profit.

 

Note: Financial forecasts are based on judgements and estimates made using currently available information. They are subject to uncertainty and risk, and final results may differ.

 

To learn more about Nissan’s financial performance, visit https://www.nissan-global.com/EN/IR/FINANCIAL/

For more information about Nissan’s products, services and commitment to sustainable mobility, visit
nissan-global.com. You can also follow us on FacebookInstagramX and LinkedIn and see all our latest videos on YouTube.

 

 


quarta-feira, 6 de novembro de 2024

 


Nissan Frontier TARMAC: uma caminhonete única e pronta para as pistas

 Colaboração entre a Nissan Motorsports, a Forsberg Racing e a Nissan Design America, conceito combina motor superalimentado, carroceria de fibra de carbono e uma suspensão NISMO rebaixada

Nissan Frontier rebaixada de design conceitual, de cor preta com detalhes em vermelho

2024/11/01

Nashville, Tennessee – A Nissan Motorsports e a lenda das corridas Chris Forsberg estão revivendo uma era amada na cultura das picapes. Em parceria com o Nissan Design America (NDA), transformaram uma Nissan Frontier em uma ‘fera’ de perfil baixo e com alta performance.

O resultado é a Nissan Frontier TARMAC Concept, que fará sua estreia mundial na feira Specialty Equipment Market Association (SEMA) em Las Vegas, entre os dias 5 e 8 de novembro.

“Vinte anos atrás, ter uma picape de alto desempenho era definitivamente uma coisa legal. Mas hoje em dia, muito raramente, você vê picapes de alto desempenho rebaixadas”, diz Forsberg. “Eu não construo uma picape rebaixada desde 2003. Parecia divertido – era diferente”, completa.

Os membros da equipe Nissan Motorsports, Kevin Lutz e Paul Boyer, começaram a sonhar com o projeto em 2021 e estavam ansiosos para torná-lo realidade. “Os estandes do SEMA SHOW costumavam ser preenchidos com picapes médias de alto desempenho e rebaixadas. Então, é fácil imaginar um retorno dessa tendência”, afirma Lutz. “Proprietários de picapes como a Frontier frequentemente adoram personalizar seus veículos, então estamos considerando como podemos atender melhor às suas necessidades.”

A TARMAC é uma verdadeira homenagem às muscle trucks (picapes com apelo esportiva, motor potente, tamanho e desempenho elevados) do passado, ao mesmo tempo em que apresenta melhorias substanciais de desempenho para se adequar à era moderna.

“Este conceito ousado e chamativo foi a maneira perfeita de mostrar alguns dos nossos próximos produtos de desempenho NISMO para a Frontier”, disse Boyer, que atuou como gerente de projeto do conceito TARMAC. Projetados para desempenho em ruas e não em trilhas, tem uma enorme potência indo para as rodas traseiras.

Forsberg adicionou uma superalimentação refrigerada a água ao motor V6 de 3,8 litros, bem como um protótipo de admissão de ar frio NISMO de fibra de carbono e escapamento de alto desempenho. Isso aumentou a potência da TARMAC para impressionantes 440 cavalos e 55,2 kgfm de torque. Os freios NISMO foram instalados usando montagens personalizadas e incluem rotores flutuantes e ranhurados de duas peças para extrema potência nas frenagens. Há duas pinças na parte traseira, uma das quais ligada a um freio de mão personalizado para prática de drifiting.

A modificação mais marcante está na suspensão: para atingir a postura próxima ao solo, a Nissan Motorsports desenvolveu uma versão personalizada do seu protótipo de suspensão de rua de alto desempenho NISMO para a Frontier, apresentando uma suspensão com amortecedores semiestruturais nos quais as molas que suportam o peso do veículo estão montadas no próprio amortecedor (coil over) totalmente ajustável na frente e um kit flip e entalhe em C na traseira.

A aparência do conceito reflete seu alto desempenho. Ele apresenta carroceria de fibra de carbono por toda parte, incluindo o spoiler da porta traseira, a cobertura do capô e os para-lamas ultra largos, que tornam a carroceria 4 polegadas mais larga do que uma Frontier regular. A fibra de carbono contrasta com a pintura Afterburn Orange. Para colocar toda a potência do TARMAC no asfalto, o time equipou a picape com rodas NISMO personalizadas de fibra de carbono de 20 polegadas com pneus Yokohama Advan 315/35.

Por dentro, há um volante exclusivo de fibra de carbono e bancos Recaro, que são revestidos com estofamento personalizado para complementar o exterior laranja vibrante. E graças ao novo freio de mão manual, o freio de estacionamento regular foi removido.

“Queríamos que a sensação de desempenho continuasse no interior”, disse Forsberg.

A equipe de Forsberg colaborou com os designers da NDA em San Diego, que forneceram feedback sobre as principais modificações na postura e na carroceria da picape. O desenvolvimento do carro-conceito durou seis meses.

Hiren Patel, gerente sênior de design exterior da NDA, aconselhou Forsberg enquanto ele trabalhava na construção personalizada.

“Ver o veículo no meio da construção dá uma ótima ideia do seu potencial, mas também é impressionante ver a quantidade de trabalho e consideração que foram investidos nele”, disse Patel. “Foi muito divertido participar.”

Patel, que trabalhou anteriormente na Frontier da geração atual, aplicou sua vasta experiência com picapes e SUVs para ajudar a reinventar esta Frontier como um conceito pronto para as pistas.

“Picapes são realmente pessoais para mim. Há muito potencial para modificação e personalização para uma paleta muito ampla de gostos e preferências”, disse ele. “Com a TARMAC, é legal ver a Frontier imaginada de uma forma não-típica.”

Forsberg tem uma história de décadas de parceria com a Nissan. Tudo começou em 2003, quando ele comprou um 350Z e se conectou com a equipe Nissan Motorsports em corridas na Califórnia. Desde então, ele competiu em inúmeros eventos em veículos Nissan – muitos dos quais ele personalizou com sua equipe internamente – do circuito de drift a corridas off-road. Mais recentemente, a Forsberg colaborou com a NISMO Off Road para criar a Frontier Forsberg Edition.

TARMAC é a mais recente vitrine da paixão de Forsberg por desempenho e seu relacionamento com a Nissan Motorsports. Ele espera que o conceito lembre as pessoas da praticidade divertida das picapes “muscle”, ao mesmo tempo em que os apresenta aos motoristas mais jovens.

“Quero trazer de volta essa nostalgia e mostrar que uma picape também pode ter desempenho. Você pode ter uma picape divertida, rápida e pronta para a pista e ainda jogar coisas na caçamba”, disse Forsberg.

O conceito Frontier TARMAC se junta a uma linha emocionante de veículos Nissan e INFINITI estreando no SEMA Show 2024 em Las Vegas.


 


sexta-feira, 1 de novembro de 2024

Nissan Serena minivans nº 1 em vendas no Japão no primeiro semestre do ano fiscal de 2024

 


A Nissan Motor Co., Ltd. anunciou em 1º de janeiro que o Serena vendeu 39.637 unidades em vendas domésticas no primeiro semestre do ano fiscal de 2024 (total acumulado de abril ~ setembro de 2024), tornando-o o vendedor número 1 de minivans no segundo semestre do ano fiscal de 2023. O modelo e-POWER equipado com a tecnologia de controle de tração elétrica nas quatro rodas e-4ORCE estará à venda em 14 de novembro de 2024.


O Serena foi bem recebido como uma minivan que permite que você aproveite ao máximo o precioso tempo com sua família devido ao seu interior espaçoso, equipamentos que combinam design e funcionalidade, além de engenhosidade para reduzir o enjoo do carro e uma gama completa de tecnologias avançadas. Além disso, o modelo e-POWER, que alcança um desempenho de aceleração mais potente e agradável e um alto nível de silêncio, também foi bem recebido, levando à minivan de vendas nº 1 desta vez.


A Nissan continuará a evoluir seus veículos com tecnologias avançadas exclusivas da "Nissan of Technology" e proporcionar emoção aos clientes.


 


*1 Automóveis produzidos internamente com capacidade para 6 ou mais passageiros. As classificações são baseadas nas informações de registro de veículos da Nissan (informações de registro de carros novos) para abril ~ setembro de 2024.


 

quinta-feira, 31 de outubro de 2024

Nissan’s e-POWER vehicle production passes 1.5 million milestone

 


October 30, 2024

 

YOKOHAMA, Japan – Nissan today announced that cumulative global production of its e-POWER vehicles surpassed 1.5 million units as of the end of October. At present, e-POWER vehicles are sold in 68 markets around the world.

A unique Nissan technology, e-POWER uses a small capacity gasoline engine and lithium ion battery to power an electric motor – the electric motor alone drives the wheels. This results in an electric-vehicle driving experience, characterized by powerful and responsive acceleration yet quietness.

Nissan launched e-POWER first in Japan in 2016 with the Note e-POWER. Availability of the innovative powertrain has since been expanded to the Kicks and X-Trail sport-utility vehicles and the Serena minivan. In fiscal year* 2023, 42.6% of Nissan vehicles sold in Japan were e-POWER.

In China, e-POWER became available in 2021 with the Sylphy e-POWER sedan and it is now also available on the X-Trail SUV.

In Europe, e-POWER versions of the X-Trail and Qashqai SUVs were launched in 2022, with a total of more than 100,000 units sold as of January.

Nissan plans to launch e-POWER in the U.S. and Canada by the end of fiscal year 2026.

 

A red e-POWER Sylphy running on a road in the desert
A blue Note e-POWER running on cobblestones
A blue e-POWER version of Qashqai running on the road

Nissan will continue to enhance e-POWER’s appeal and competitiveness to meet the wide-ranging needs of customers around the world.

 

Cumulative production of e-POWER vehicles

Japan

1,170,000 units

Europe

140,000 units

China

60,000 units

Others

150,000 units

Total

1,520,000 units

Note: All figures rounded; as of the end of October 2024

 

*Nissan Motor Co., Ltd. fiscal years are from April through March