Nissan asks suppliers if it can delay payments
According to emails seen by Reuters, Nissan asked suppliers in the UK and Europe if they will accept late payments so that the company can have more cash on hand at the end of the current quarter.
Nissan wanted to push supplier payments due in June out to August, and even September. Similar tactics were reportedly employed at the end of March to close out the company's financial year.
In one email, a director notes his team hasn't achieved its target of freeing up €150 million ($269 million) of cash flow.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert
The automaker confirmed to the news agency it had asked some suppliers if they were amenable to more flexible payments whereby 'they could choose to be paid immediately or opt for a later payment with interest'.
It added it wanted to delay payments to suppliers so that it had 'sufficient liquidity to weather the costs of the turnaround actions and redeem bond maturities'.
Nissan has ¥700 billion (A$7.3 billion) in debt due this current financial year, which ends in March 2026.
At the time of writing Nissan has about ¥2.2 trillion (A$23.3 billion) of cash on hand, but the firm expects to have negative free cash flow of around ¥550 billion (A$5.8 billion) in this quarter alone. Nissan doesn't expect to be cash flow positive until some time next year or in early 2027.
All three major ratings agencies have adjudged Nissan's long-term debt to be in the upper echelons of the 'junk' or non-investment grades. Further cuts to its debt rating would make it more difficult and more expensive to gain access to loans. Supplied Credit: CarExpert
Nissan's UK division has confirmed to local media outlets, including Autocar and The Northern Echo, it is seeking to reduce headcount at its Sunderland factory by 250 people via voluntary redundancies.
The plant currently employs around 6000 people, and no manufacturing staff are being let go. The factory currently produces the Qashqai and Juke for the UK, Europe and Australia. It will also make the next-generation Leaf SUV, and new Juke EV.
As part of its restructuring plan Nissan will close seven of its 10 car making plants across the world, and reduce its global workforce by 15 per cent or 20,000 people, both by March 2028. Sunderland was first plant to be marked as safe from closure.
Nissan has been skating on thin financial ice for the last year-and-a-bit. In May it announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025.
Other cost cutting efforts include reducing platforms and development times, potentially selling its Yokohama HQ, and pausing the development of vehicles and technology due for launch after March 2027. It has also established a transformation office' with an initial staff of 300 experts who have been 'empowered to make cost decisions'.
MORE: Everything Nissan
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
6 hours ago
- The Advertiser
2025 Porsche 911 Carrera 4S variants revealed and priced for Australia
Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive. MORE: Everything Porsche 911 Content originally sourced from: Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive. MORE: Everything Porsche 911 Content originally sourced from: Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive. MORE: Everything Porsche 911 Content originally sourced from: Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive. MORE: Everything Porsche 911 Content originally sourced from:
7NEWS
7 hours ago
- 7NEWS
2025 Porsche 911 Carrera 4S variants revealed and priced for Australia
Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Tyre fit set Windscreen with grey top tint Power Steering Plus (as a no-cost option) Parking Entry Package (including 3D Surround View and Self-Steering ParkAssist) Adaptive cruise control Blind-spot monitoring Comfort Access 14-way adjustable sports seats with memory package Bose surround sound system DAB+ digital radio. Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive.
Perth Now
7 hours ago
- Perth Now
2025 Porsche 911 Carrera 4S variants revealed and priced for Australia
Porsche's rollout of its facelifted 992.2-series 911 range continues with the reveal of the updated Carrera 4S Coupe, Carrera 4S Cabriolet and Targa 4S. The three new all-wheel drive variants, which bring the total number of AWD 911 models available to six, brandish most of the upgrades we've already seen in the upgraded 911 Carrera and GTS hybrid, as well as the Carrera T, the Carrera S and the GT3/GT3 Touring. Updated 992.2-series 911 Turbo and Turbo S variants are yet to be revealed, and the range will be topped by upgraded GT3 RS and all-new GT2 RS racers for the road. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert Although the latest 4S variants bring more power and a longer list of standard equipment, like other MY25 911s they will also be more expensive. Due for Australian release in the final quarter of this year and now available to order, the MY25 911 Carrera 4S Coupe has been priced from $362,300, the 911 Carrera 4S Cabriolet from $385,200, and the 911 Targa 4S from $389,400 (all prices exclude statutory on-road costs). Once again that positions the all-wheel drive 4S variants between the standard Carrera 4 grades and the high-output GTS performance flagships. Supplied Credit: CarExpert And like the Carrera S variants with which they share their upgraded twin-turbocharged 3.0-litre six-cylinder boxer engines, all three new 4S grades now produce 353kW of power (up 22kW) thanks to an optimised intercooler system borrowed from the 911 Turbo. Equipped with the same eight-speed dual-clutch (PDK) automatic transmission driving all four wheels, the latest 911 Carrera 4S Coupe is claimed to accelerate from 0-100km/h in 3.3 seconds with the Sport Chrono Package's launch control system, on its way to a top speed of 308km/h. Additional standard equipment compared to their predecessors will include staggered 20/21-inch front/rear Carrera S wheels with an updated design, Porsche Torque Vectoring Plus (PTV+), a sports exhaust system and the brake package from GTS variants, including red brake callipers gripping 408mm front and 380mm rear rotors, plus rear-wheel steering for the Targa 4S. Supplied Credit: CarExpert Inside, there's a full leather trim package, wireless smartphone charger, auto-dimming interior and exterior mirrors with integrated rain sensor, lane departure warning, power-folding exterior mirrors with mirror surround lighting, and the Light Design Package. Matrix LED headlights are now also standard and there will be the usual range of interior colour and trim options, as well as sound, driver assistance and, for Targa variants, roof options (black, blue, red or brown). In addition, Australian-delivered 911 Carrera 4S and Targa 4S vehicles will be fitted as standard with the following: Tyre fit set Windscreen with grey top tint Power Steering Plus (as a no-cost option) Parking Entry Package (including 3D Surround View and Self-Steering ParkAssist) Adaptive cruise control Blind-spot monitoring Comfort Access 14-way adjustable sports seats with memory package Bose surround sound system DAB+ digital radio. Supplied Credit: CarExpert Porsche says about half of all Carrera S customers opt for the 911's all-wheel drive system, which remains rear-biased and employs the Porsche Traction Management (PTM) system to send torque to the front axle via a water-cooled electromechanical clutch assembly in the front differential. First revealed 60 years ago at the 1965 Frankfurt motor show, before it was introduced in the US as the 'safety cabriolet', the 911 Targa continues to feature a removable glass roof and folding rear window. It's offered exclusively with all-wheel drive. MORE: Everything Porsche 911
