Nissan is planning aggressive cost cuts to deal with an unexpected slum...
), could post another loss at its carmaking business in the last quarter of 2019 - and possibly for all its operations in the year ending in March.
One source with direct knowledge of the turnaround plan said Nissan’s marketing teams globally gobble up nearly 1 trillion yen a year, or about 45% of Nissan’s annual fixed costs of 2.1 trillion. But since July, Nissan’s operating performance has worsened by more than expected, making it likely its new management team will have to find savings significantly above the 480 billion yen currently envisaged to hit its targets, three sources said.To be sure, Nissan has plenty of cash in its coffers to cope with setbacks. According to quarterly results, it had 1.14 trillion yen in net cash at the end of September.
They said Nissan’s global sales would likely fall towards 5 million vehicles, or slightly above, way short of its sales goal of 5.5 million for its current financial year. Now, it is aiming to cut its range to 62 and boost average sales per line to 87,000, the equivalent of Toyota’s average last year, according to calculations and forecasts by the team formulating Nissan’s recovery plan.
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