EXCLUSIVE: Datsun brand set to go as Nissan rolls back ousted leader Carlos Ghosn's expansionist strategy - sources
YOKOHAMA, Japan - Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.
The plan is the Yokohama-based automaker’s latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct - charges he denies. The scandal has further strained an already dysfunctional alliance with Renault SA and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years.
“We need to chart a recovery but the rot goes deep,” one of the sources said of the many problems facing Nissan. “We’re trying to clean up what had happened in the past,” one of the sources said, adding that under Ghosn, Nissan sought to meet sales objectives at any cost, including “practically giving away cars” to fleet customers.
To that end it will roll back an aggressive expansionist strategy Ghosn set in motion under a five-year plan called Power 88 which aimed to raise profit margins and global market share to 8 percent by fiscal 2016 - goals which were never achieved. In Indonesia, for example, after a relatively good start, Datsun cars soon began eating into Nissan sales.
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