Nissan Motor Co., Ltd. (NSANF)
- Reuters
Nissan cuts output at top Japanese plant, sources say
Nissan cut planned production by a third at its top Japanese plant this month, a move that will also see it slash output of a flagship crossover model, two people said, as it struggles with weak U.S. demand for its ageing line-up. The Japanese automaker on Thursday reported an almost complete wipe-out in April to June profit and cut its full-year outlook after it was forced to offer deep discounts in the U.S., highlighting the deepening risk it faces in its largest market. Unlike rivals Toyota and Honda, Nissan doesn't offer hybrid models in the U.S. and therefore hasn't benefitted from recent upswing in demand from U.S. consumers for hybrids as enthusiasm around EVs has cooled.
- Zacks
New Strong Sell Stocks for July 26th
ARCO, HRI and NSANY have been added to the Zacks Rank #5 (Strong Sell) List on July 26, 2024.
- The Guardian
Fears of automotive industry downturn as profits slide at Nissan and Stellantis
Carmakers announce disappointing results, and production in UK revealed to have dropped
