Nissan announces 9,000 job cuts, slashes sales forecast

The continuing consequences of actions by Japanese management threatened by Carlos Ghosn.

In the years following Ghosn's departure, Nissan's profit margins have been roughly half of what they were during Ghosn's tenure, and significantly lower than other leading manufacturers.

Ghosn remains an international fugitive in Lebanon and denies the allegations against him. He said he fled Japan because he did not believe he could receive a fair trial.

Japan doesn't deserve Ghosn and also please don't blame Ghosn for this one, it's been several years with multiple quarters. It just shows growth happened because Ghosn, without Ghosn there's no growth.

All of them I’m sure in all non-third world countries and the US where salaries are high. Lets take advantage of SEA

This is the beginning of the end of Japan's auto industry.

Recall that Carlos Ghosn was the first to push a Japanese automaker toward EV, but his Japanese subordinates staged a coup and kicked him out, and Nissan has been in a downward spiral ever since.

Japan's children born today will ask their parents if Japan used to make automobiles, because all the new automobiles are imported, just like how a Japanese teenager on her iphone today is amazed that Japan used to make smart phones but all phones are now imported.

@Asiaman7 good point

This is additional fact from May 2024.

https://www.statista.com/statistics/232958/revenue-of-the-leading-car-manufacturers-worldwide/

Carma.

"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," a company statement said.

Couldn't happen to a nicer company.

as fast-growing electric vehicle firms backed by Beijing race ahead.

With Elon Musk central to Beijing's fast-growing electric vehicle control, and Musk's rumored involvement in a Trump administration in which Trump and his GOP lackies push for increasing the use of fossil fuels, it will be interesting to see which way the US goes, and whether MbS, MbZ Putin,Exxon, BP, Shell and the other global masters of oil/gas and war will continue to have global hegemony and keep the fossil era going until the planet is damaged beyond repair. US Americans used the remaining bits of the republic's democratic principles to elect a fossil, and need to be held accountable for voting him in.

Come back Carlos Ghosn. All is forgiven.

Good for them. Karma.

*In the years following Ghosn's departure, Nissan's profit margins have been roughly half of what they were during Ghosn's tenure**,*

Asiaman7 obviously upset the Burgermeister by calling attention to the unmentionable.

One of the first things that Ghosn did was to TRIM the workforce by 21.000,

Ghosn must be gloating. He got away with Nissan’s money when the automaker was better off. If you think EV will ever replace gasoline cars, you’re wrong. That’s not going to happen.

One of the first things that Ghosn did was to TRIM the workforce by 21.000,

The company was on the verge of bankruptcy at that time.

How many of the 21,000 eventually got hired back — to a company that still existed?

We have seen this downturn so many times before. First Company A starts producing something that is really desirable in Japan, sales go thru the roof, then worldwide sales hit follows. Other companies around the world start to improve sad product, Company A is slow to react or in case of Nissan, they were not slow but lacked research, but all is good because Japanese "jorenkyaku" are still buying their product like hot cake. Few people will notice that Company A production lines around the world are starting to close down or shift production to smaller factories, but sales in Japan are still good, giving the impression that they still have a hit product. Few people will acknowledge that their loyal costumers are very afraid to buy something made by a foreign company even if it is better and cheaper (actually we will never admit that something from outside is better). Then comes a product that actually is really good, like the Iphone, gopro, Lg tvs etc and take away most of the remaining domestic sales. People will wonder why the company that had the head start did not foresee this change in trend when actually the aversion to foreign companies and loyalty to old japanese ones is what really held them back. Other countries will heavily tax foreign products to help domestic production, it is called protectionism, here it is just how it goes, no taxes needed.

EV is the automotive sector that has seen the largest growth in the last decade worldwide but thanks to a cheaper petrol price in the last year coupled with a increase in battery supply price there was an uptick for fuel efficient cars sales, mostly hybrids. Batteries are still expansive to produce and they will continue to be expensive because of all the demand. Cheaper hybrids are fine and Japanese companies should really cash in right now but why can't they also be heading the new trend? BYD seems to be doing just fine producing Hybrids and EVs. BMW has sold more EVs than Tesla in Europe, but here, all the EVs are really lagging behind the competition. Nissan Aria and Toyota BZ4 have years of waiting, that is if they let you on the waiting list. Internationally they sell ok because of their famous brand names but the technology is still years behind their competitors. For instance, one of the most crucial part of moving from an ICE car to an EV is charging time and that really is something that these cars show how far behind they really are, being 5 to 10 times slower to charge than their counterparts, that will translate to a charge time in minutes to a charge time in hours.

I really hope we can change this course around and avoid seeing this iconic sector of Japanese industry meet the same fate of the electronics sector that is not dead but has not been a leader in the segment for many years. I also tend to buy Made in Japan, but if we really want to see domestic companies being worldwide leaders and trend makes we have to make them earn our loyalty every time we open our wallets.

This is the beginning of the end of Japan's auto industry.

LOL, With the exception of Nissan Japanese Autos companies are make record profits.

The company reported a 93 percent plunge in net profit in the first half as CEO Makoto Uchida told reporters that weak sales in the North American market were a major factor.

Because Nisssan does not a hybrid and put all its eggs into E cars.

Nissan put all into eggs into E- Cars. And...

Hybrid cars are having a moment as Americans fear EVs just aren't reliable

https://qz.com/hybrid-vehicle-popular-ev-demand-ford-toyota-hyundai-ey-1851643115

It was Ghosn idea to go into E-cars, and he blew it. Face the facts.

"" The company reported a 93 percent plunge in net profit in the first half as CEO Makoto Uchida told reporters that weak sales in the North American market were a major factor.""

Mr. Uchida blaming everyone and everything else but himself, time to step aside sir or bring Ghosn back to fix your screw ups.

These are 9000 Homes, Families, Citizens, Humans, that are not going to have a happy New Year celeb. because of one man's actions.

"" Nissan and its domestic rivals are also struggling to stand their ground in China, as fast-growing electric vehicle firms backed by Beijing race ahead. ""

YES, That is TRUE but Nissan sales has been sliding downwards for years before the EV revolution, wait till BYD and other EV manufacturers enter the rest of world markets , WE ARE IN for the shock of our life time, it is only a matter of time.

Nissan is just uncompetitive and becoming uncompetitive means the end…

"" Three major Japanese automakers respectively reported new vehicle sales declines in China in January-June, with their combined sales in the six-month period falling 12.9% from a year earlier.

The data suggest that the plight of Japanese automakers, known for their strength in gasoline vehicles, is deepening amid the spread of electric vehicles in China.

Toyota Motor Corp.’s new vehicle sales in China in the first half of 2024 dropped 10.8% from a year before to 785,000 units. Honda Motor Co.’s sales plunged 21.5% to 416,000 units and Nissan Motor Co.’s sales fell 5.4% to 339,000 units. ""

Source:

https://japannews.yomiuri.co.jp/business/economy/20240710-197739/

"" Come back Carlos Ghosn. All is forgiven. ""

Not gonna happen, he is living the good life on the Mediterranean Coast with his family sipping wine and enjoying the Lebanese Cuisine, a life he would have never had any other place in Retirement.

Samit BasuToday  06:54 am JST

This is the beginning of the end of Japan's auto industry.

South Korea would not even have an auto industry if not for Japanese assistance.

In the 1960s and 1970s, South Korea's government prioritized industrial development, including the automotive sector. Japanese automakers such as Toyota, Nissan, and Mazda provided technology and expertise through licensing agreements and partnerships.

One of the most significant collaborations was between Hyundai and Mitsubishi Motors. Mitsubishi provided technical assistance, engines, and blueprints for early Hyundai models like the Hyundai Pony, South Korea’s first domestically produced car in 1975.

While South Korean brand cars obviously dominate their domestic market, in the export market South Koreans automobiles have and continue to gain market share by being priced under Japanese brand cars.

Nissan is far from "over". And Nissan certainly does not represent the entire Japanese auto industry. Toyota sales 2023 10.8 million vehicles, Hyundai group 7.22 million.

Kia and Hyundai have taken over in the USA. Japanese car makers had a good run.

This is the sound of the world’s tiniest violin playing. Nissans appeal and legitimacy is long Ghosn with the wind. Wouldn’t touch them with a ten foot pole. Karma’s a bitch.

Those who remember the car industry in the seventies in the UK must be pondering the ‘what goes around…’ line. What Nissan needs now is an outsider who will turn the company around, and then get arrested as thanks

I was going to buy the new Nissan Note then they changed the model again !

It looks rubbish now.

As someone who sells the Nissan product. 

I will say as a salesperson who offers multiple choices. Let’s take the Rouge segment-based vehicles for example, On the middle to larger SUV side. 

Dull and boring vehicle. No GTR for sure.  

Nissan can only blame itself. Other comparable vehicles in all the Nissan type segments down the line that Nissan offers. They have really fallen off. Really no excitement around Nissan vehicles. The Altima is really the only car I see in demand in the US markets. I can not speak for the JDM market. That’s not my market. 

Consumers want more bang for the buck. Nissan has failed to deliver. Put that forth with high interest rates and vehicle costs that continue to rise? It’s been hard to move Nissan metal without a serious rebate or discount, case by case on one particular vehicle or deal.

Consumers these days want. 

Kia, Jeep, Toyota, Ford.

Here in Korea. Kia makes some really affordable vehicles that are loaded with tons of features and options. Ford as well has really stepped up their game. The Kia Telluride is an amazing vehicle. 

As far as Carlos Ghosen. He was the best CEO Nissan ever had for making Nissan money and keeping Nissan relevant.

I was going to buy the new Nissan Note then they changed the model again !

It looks rubbish now.

Yeah, looked better before the facelift.

There was a great CEO from Renault. He might be able to turn the company around.Oh hang on! I'll take it back. LOL Stuck a Japanese CEO in, and it all goes to .........Oh well!

Look at all the Japanese nationalist downvotes regarding Ghosn.

Can't blame Carlos for this one. He's Ghosn.

Nissan vr would not even be talked about today if not for Mr Ghosn. A nice man ? No. An efficient professional? Yes.

he brought Nissan into e-cars but would have taken them out again if needed before the rest of the market did.

was he correct to run from Japan ? Sure was.

Is Nissan coming back this time ? Not under Japanese “ management.

chinese cars will never take control of the market because they are crap made by government subsidised entities, not by well managed private companies. China never was an economic power and Trump will destroy them completely in his 2nd term. China could never compete in a fair business environment. Retail in China is dead, real estate and financial sectors, dead.

I had an impression that weak yen is very good for J corporations. Apparently, J corporations are getting weak anyways.

Nissan cars are good cars, I've had 2004 X-Trail for 20 years, and it still goes well. One aspect of more modern Nissan production that might be improved and improve sales somewhat is the gearbox: while mine has a reliable four speed automatic one, other manufacturers' have six or eight speed automatic ones, but Nissan has been using continuously variable transmissions (CVTs) in all models. Unfortunately this type of gearbox is not universally popular, and Nissan's have sometimes been said to be rather more unreliable. Just a thought!

Leaving Ghosn aside, one has to take a look to all current Nissan lineup to immediately realize why Nissan is such in a down spiral.

The cars are not just straight ugly, but their design is boring as hell, they are overly price, and their interior is nothing spectacular. The GT-R R35 model is already almost 18 (eighteen) years old (!!!), and a new sports model is nowhere to be seen.

They are basically selling the same cars since Ghosn was callously axed, and their innovation is equal with ZERO!!

And the incompetent Uchida is still trying to find excuses why his company is doing "so well"....

8TToday  10:20 am JST

Kia and Hyundai have taken over in the USA. Japanese car makers had a good run.

They are a good option for Americans who can't afford Japanese brands.