Nissan slashes profit outlook after first quarterly loss in a decade

Nissan cut its full-year operating profit forecast by 43 percent. The dismal outlook comes after the automaker posted a net loss of 238 million USD for the October-December third quarter.

Nissan’s first quarterly net loss in nearly a decade contrasts sharply with upbeat forecasts from rivals Toyota and Honda.

Nissan’s global vehicle sales tumbled 11 percent during the October-December period. Sales dropped 18 percent in the United States, with once popular models such as the Rogue SUV crossover and Sentra sedan falling out of favor. In China, sales slipped 0.6 percent.

Nissan now expects to sell 5.05 million vehicles for the entire year, which would be its weakest sales performance since 2013.

Via Automotive News