business

Nissan slashes profit amid Ghosn scandal, lagging sales

15 Comments
By YURI KAGEYAMA

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15 Comments
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My next car won’t be a Nissan as this scandal has left me with a bad taste.

12 ( +15 / -3 )

Womp womp. The incompetence is bubbling to the surface. Only way is down now.

12 ( +13 / -1 )

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!

7 ( +9 / -2 )

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.

7 ( +7 / -0 )

You reap what you sow, Nissan

5 ( +5 / -0 )

Karma

5 ( +5 / -0 )

Breaks my heart. All my best to Ghosn. This is ingratitude at its worst.

4 ( +6 / -2 )

Nissan slashes profit amid Ghosn scandal, lagging sales

GREAT NEWS!!

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!

excellent advice.

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.

Couldn't have said it better myself.

3 ( +4 / -1 )

Gosh, if only there were some type of international business guru to bail them out....

oh wait.

3 ( +3 / -0 )

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.

3 ( +3 / -0 )

Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan. But the high-profile scandal has weakened the brand appeal of the maker

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.

2 ( +2 / -0 )

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!

1 ( +1 / -0 )

Nissan will not be getting my money. No way.

1 ( +1 / -0 )

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.

0 ( +0 / -0 )

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?

-2 ( +0 / -2 )

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