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© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Nissan slashes profit amid Ghosn scandal, lagging sales
By YURI KAGEYAMA TOKYO©2024 GPlusMedia Inc.
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counterspin
Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan
The note is great car. The car was designed by Nissan and its management. The e-system is really innovated Ghosn had nothing to do with it. In fact Ghosn was pushing to end Note production and the French opposed the new design.
The results are for the fiscal year. Which means from April 1 2018 to March 31 2019. Which means Ghosn was in charged when the plans for the company were being made. Therefore he shares the lion share of the responsibility for the results.
quercetum
Nissan will not be getting my money. No way.
Solzasco
Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan
Indeed, if you remember what Ghosn said in his short video conference just before being re-arrested, the core of the plot against him is precisely to be found in the bad results of the actual management of Nissan, and the fact that they simply lied and mismanaged Nissan behind Ghosn's back!
Do the hustle
Are they going to try to blame Ghosn for this too? The fact is, their profits have dropped since his arrest. I guess they are too proud or stupid to realize the drop in sales is due to a drop in popularity after they underhandedly dismissed Ghosn. Consumers do not have confidence in unscrupulous companies.
alwaysspeakingwisdom
LOL at the Auto analysts here. Nissan profits fell because auto sales in the US fell. Even if Ghosn was still in charge, Nissan would have reported the same results. More they still made 2.2 billion in net profits. Here is report from the US:
Top U.S. carmakersOpens a New Window. on Tuesday reported declining first quarter vehicle salesOpens a New Window., a sign the market is past its peak sales cycle as uncertainty over the future of tariffs and the trade deal with Canada and Mexico continue to weigh on the auto market
From China
China’s auto sales fell again in March, an industry group reported on April 12.
So both the US and China are slowing down. Get it?
Scrote
Aren't these two sentences contradictory? In the first sentence Nissan cannot keep up with demand, in the second appeal, and presumably demand, is said to have fallen. Perhaps the point to be made is that Nissan has few desirable products, hence the fall in profits.
Graham DeShazo
Gosh, if only there were some type of international business guru to bail them out....
oh wait.
oldman_13
Karma
BlackFlagCitizen
You reap what you sow, Nissan
Aly Rustom
Nissan slashes profit amid Ghosn scandal, lagging sales
GREAT NEWS!!
excellent advice.
Couldn't have said it better myself.
edbardoe
They win! They ousted the executive that saved the company from their own incompetence. With the help of Japan's corrupt legal system, they win control of a company that will be worthless in two years time. Who would want to buy a car with that nameplate, now a synonym for corrupt nationalism.
talaraedokko
Breaks my heart. All my best to Ghosn. This is ingratitude at its worst.
thelonius
Time for Renault to join VW group, and unwind its Nissan stake. Or buy a controlling share and sell off the pieces. Salvage as much value while they still can!
Wallace Fred
Womp womp. The incompetence is bubbling to the surface. Only way is down now.
kurisupisu
My next car won’t be a Nissan as this scandal has left me with a bad taste.