Nissan's On The Ropes - Will The Brand Survive?
Lafayette - April 11, 2025: Nissan Armada SL 4WD display at a dealership. Nissan offers the Armada ... More with a 425HP 3.5L Twin-Turbo V6 engine. MY:2025
The Japanese automaker just slashed costs in a desperate attempt to stay on the road. According to Reuters, 20,000 jobs were axed, seven factories shut down and no one's getting raises. Buyout packages have been offered at their Canton, Mississippi plant—plus cutting salaried folks in HR, finance, IT and planning.
A lot of things. Much of Nissan's lineup can be politely described as 'old'. The company's operating profits dropped 90% in the first half of the fiscal year. What's causing it? Weak sales in North America and China, which happen to be two of the biggest car markets on Earth.
"While substantial efforts have been made in the U.S. to help right-size Nissan, we need to take additional, limited, strategic action here at a local level," Nissan Americas Chairman Christian Meunier said in a shared company-wide email. The plan is "crucial for Nissan's comeback," he said.
On Tuesday, Nissan reported it paid a total of 646 million yen (approximately $4.5 million) in compensation to former CEO Makoto Uchida and three other executive officers who stepped down at the end of March.
Nissan has not released a complete list of production sites slated for closure. However, in Japan, the Oppama plant and one other are under consideration, say insiders.
*In Latin America, pickup truck production will be consolidated into a single plant in Mexico, ending production in Argentina.
*Nissan has also announced the closure of a plant in Thailand by June.
*Renault will acquire Nissan's stake in their joint business operations in India.
According to a report by Bloomberg News, Nissan is exploring options to raise over 1 trillion yen through a combination of debt and asset sales. This includes a potential syndicated loan backed by the UK government.
Sedans: The Versa, Sentra, and Altima are all small vehicles designed to be relative bargains and achieve decent mileage. But all these vehicles have been around for many years.
SUVs: The Kicks, Rogue, Murano, Pathfinder, and Armada represent Nissan's diverse SUV offerings, from compact to full-size - and also are long in the tooth.
Trucks: The Frontier
Electric Vehicles: The Ariya and Leaf EVs
Sports Car: The Z's always been a favorite, and a test two years ago proved a fun, exciting firecracker.
The devastating crash of the economy and bankrupcies faced by Ford, GM and Chrysler in 2008 proved no company is 'too big to fail.'
No. Owners will still be serviced by dealers, the company says.
It's either a comeback story in the making—or a slow-motion exit.
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