|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||3.8000 - 3.8900|
|52-week range||2.9000 - 7.3000|
|Beta (5Y monthly)||1.22|
|PE ratio (TTM)||2.30|
|Forward dividend & yield||0.36 (9.26%)|
|Ex-dividend date||27 Sep 2019|
|1y target est||N/A|
Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source told Reuters on Monday. A Nissan spokesman declined to comment. The decision to leave Barcelona was announced by the Japanese carmaker last week as part of a turnaround plan, triggering protests by workers and a commitment by Madrid to do all it can to convince the company to stay.
Nissan (NSANY) incurs fiscal 2019 loss of 671.2 billion yen, which marks the worst in two decades. Meanwhile, AutoZone (AZO) tops fiscal Q3 earnings estimates despite coronavirus woes.
(Bloomberg) -- The extent of the devastation wrought on the European car industry by the coronavirus pandemic came into sharp focus on Friday when a sampling of major vehicle and parts manufacturers from France to Sweden revealed plans for at least 35,000 job cuts.Renault SA said it will eliminate about 14,600 workers worldwide and lower production capacity by almost a fifth as part of a sweeping three-year overhaul. The cuts in France were unveiled just as Stockholm-based Autoliv Inc., the world’s largest supplier of seat belts and airbags, said it’s also culling workers. And in Germany, BMW AG chimed in with sweetened incentives to get 5,000 workers to leave, while supplier ZF Friedrichshafen laid plans to eliminate as many as 15,000 positions.The thinning-out come as the continent’s auto sector emerges from a double blow dealt by the health crisis, which first snarled manufacturers’ supply chains that were reliant on parts from China, where the outbreak began. Then strict lockdowns in countries like France, Germany and the U.K. shut factories and dealerships overnight, leaving consumers at home and car inventories to pile up. As people around the world begin to emerge from self-isolation, there’s no telling when the public will start shelling out to buy new cars again.“This adverse economic situation has shown the limits of our business model, which was betting on unprecedented growth in emerging markets and in sales volumes,” acting Renault Chief Executive Officer Clotilde Delbos said as she provided details about how the bloated company would proceed with a deep and painful downsizing following years of expansion.The measures by the European companies herald a tricky time for politicians and top management. Governments extended unprecedented financial aid to keep businesses afloat and workers employed, and now companies are facing the necessity to re-size their industrial footprint to reflect shrinking demand.Renault’s plan includes the politically delicate task of trimming 4,600 positions in France, or about 10% of the carmaker’s total in its home country, through voluntary retirement and retraining. More than 10,000 further jobs will be scrapped in the rest of the world, pruning a global workforce of about 180,000 people.The measures round off a decisive week for the French company and its Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp., drawing a line under a two-decade era of aggressive expansion under the alliance’s former leader, Carlos Ghosn, who was arrested in late 2018.The European car industry is particularly hard hit by the pandemic crisis because of overcapacity before the virus hit. Fiat is asking for a $6.9 billion state-backed loan to save its Italian operations and Volkswagen AG is facing pressure from German labor groups worried about job cuts at home. In Spain, Renault’s partner Nissan is contending with angry workers protesting a plan to close a plant in Barcelona, while French unions have called for a strike at a plant in the north of the country.In Germany, BMW is treading carefully around head-count reduction, negotiating with unions about giving more incentives to workers to persuade them to leave. It has been unable to meet its staffing reduction goal with existing measures, Chief Financial Officer Nicolas Peter said in an internal posting confirmed by the company. Those have included placing employees on unpaid leave and reducing working hours for those on shorter contracts.Parts MakersZF, one of the world’s biggest suppliers of brakes and other automotive parts, will pare back by between 12,000 and 15,000 jobs, according to people familiar with the matter, or 10% of its global workforce.At Autoliv, Chief Executive Officer Mikael Bratt said the company’s largest markets in the Americas and Europe were at a virtually stand still in April and a slow and volatile restart is leading to job cuts in the three months through June.“With our largest markets Americas and Europe virtually standing still in April, the challenges we are managing in the second quarter are unprecedented,” Bratt said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Nissan (NSANY) reports net loss of 671.2 billion yen in fiscal 2019, mainly due to the COVID-19 pandemic, which hurt the company's production, sales and other business activities in all regions.
The Japanese government has guaranteed almost a third of the 7l3 billion yen ($6.65 billion) in loans Nissan Motor Co has secured from its main lenders to weather the COVID-19 pandemic, according to three people with knowledge of the plans. The automaker, seeking to return to profitability and stop bleeding cash, has secured 350 billion yen from its biggest lender, Mizuho Financial Group, of which 200 billion is backed by the state, the sources told Reuters on Friday. Among other lenders, the Development Bank of Japan will loan 180 billion yen, while Mitsubishi UFJ Financial Group will lend 120 billion yen, the people said on condition of anonymity as the information is not public.
Spain said on Thursday it would do everything possible to stop Nissan from closing its main car factory in the country as angry workers burned tyres and shouted "War" outside the Barcelona plant. The decision by Japan's Nissan Motor Co earlier on Thursday to shut the 3,000-worker plant from December as part of global cost cuts is a blow for the euro zone's fourth-largest economy at a time when unemployment is rising and a recession is looming due to the coronavirus crisis. The government, which said in January after meeting officials from the Renault-Nissan alliance that jobs at the plant were "guaranteed," lamented the decision and urged Nissan to look at other options.
May.28 -- Nissan Motor Co. Chief Operating Officer Ashwani Gupta discusses the automaker's financial position, how it is navigating current geopolitical tensions and the outlook for the auto industry with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
Nissan Motor Co has agreed to settle a long-running dispute with the Indian state of Tamil Nadu after claiming it was owed 50 billion rupees ($660 million) in unpaid dues and damages, six sources told Reuters. As part of the settlement, the Japanese automaker is expected to receive between 14 billion rupees ($185 million) and 18 billion rupees ($238 million), two sources aware of the matter said. The dispute arose after Nissan said Tamil Nadu hadn't paid certain incentives under a 2008 agreement to set up a car plant in the southern state.
Nissan Motor Co <7201.T> has agreed to settle a long-running dispute with the Indian state of Tamil Nadu after claiming it was owed 50 billion rupees in unpaid dues and damages, six sources told Reuters. As part of the settlement, the Japanese automaker is expected to receive between 14 billion rupees ($185 million) and 18 billion rupees ($238 million), two sources aware of the matter said. The dispute arose after Nissan said Tamil Nadu hadn't paid certain incentives under a 2008 agreement to set up a car plant in the southern state.
The fortified alliance among Renault (RNLSY), Nissan (NSANY) and Mitsubishi focuses more on efficiency and competitiveness than on volumes.
Nissan Motor Co's cash situation is "tough" as the coronavirus has sapped car sales, and the automaker must be vigilant in the coming months as a second wave of infections may add to liquidity issues, CEO Makoto Uchida told Reuters on Thursday. "With the coronavirus situation, our cash liquidity is quite tough," Uchida told Reuters in an video interview after the automaker announced its latest recovery plan, while adding that he believed the virus situation would improve from the third quarter.
French carmaker Renault said on Thursday that losses at its Japanese partner Nissan, in which it has a 43% stake, would drag on its on net earnings by 3.6 billion euro ($3.96 billion) in the first quarter. Renault, which posted its first net loss in a decade in 2019, has like Nissan been struggling with faltering sales, a slide exacerbated this year by the coronavirus pandemic. Nissan posted an annual operating loss of 40.5 billion yen ($376 million) for the year to March 31, its worst performance since 2008/09, while net losses came in at 671.2 billion yen.
Japan's top eight automakers together posted a decline of 54.4% in April sales, according to a Reuters calculation. Toyota Motor's worldwide sales including units Daihatsu and Hino fell 45% to 472,703 vehicles - the fourth straight month of declines. Toyota's performance was dragged down by a 51% slump in sales outside Japan.
Japan's top eight automakers together posted a decline of 50.1% in April sales, according to a Reuters calculation. Toyota Motor's <7203.T> worldwide sales including units Daihatsu and Hino <7205.T> fell 45% to 472,703 vehicles - the fourth straight month of declines. Toyota's performance was dragged down by a 51% slump in sales outside Japan.
Nissan Motor Co <7201.T> outlined a new plan on Thursday to become a smaller, more efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault <RENA.PA> and Mitsubishi Motors <7211.T>. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs.
Nissan Motor Co <7201.T> said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen (2.27 billion pounds) as it looks to become a smaller, more cost-efficient automaker following a slide in sales. The announcement came after Nissan posted an operating loss of 40.5 billion yen ($376 million) for the year ended March, its first loss in 11 years.
Japan's Nissan Motor Co <7201.T> has decided to close its factory in Barcelona, resulting in the loss of about 3,000 jobs as part of a worldwide restructuring plan, the Spanish government said on Thursday. The move is a blow for Spain at a time when unemployment is increasing, with a steep recession looming because of the coronavirus crisis. The government, which had said in January after a meeting with leaders from Renault and Nissan that jobs at the Barcelona plant were "guaranteed," urged the Japanese carmaker to look at other options for the Barcelona plant.
Nissan Motor Co <7201.T> unveiled a plan to become a smaller, more cost-efficient automaker on Thursday as it looks to recover from four years of tumbling profits that culminated in its first annual loss in 11 years. Nissan is aiming for a 5% operating profit margin and global market share of 6% under what is its second recovery plan in less than a year. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09.
The automaking alliance of Renault SA, Nissan Motor Co and Mitsubishi Motors Corp outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement. Under it, the alliance member with the strongest position in a market, product or technology will spearhead the group's efforts there, with the others supporting. Almost half of the alliance's vehicle lineup will be produced under the scheme by 2025, it said.
Since its founding in 1999, the partnership between Renault and Nissan was dominated by its leader, Carlos Ghosn. As Renault, Nissan and junior partner Mitsubishi repair their alliance, they are under pressure to recover from two years of falling vehicle sales, a problem exacerbated by the coronavirus pandemic.
Renault, Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car production to save costs and salvage their troubled alliance. The companies have been hit hard by the coronavirus pandemic just as they were trying to rework their partnership following the arrest of its chief architect, Carlos Ghosn, who had been pushing for a merger despite stiff resistance from Nissan. The new plan, which entails cutting the alliance's vehicle ranges by a fifth, pooling manufacturing by region and capitalising on joint designs, is meant to serve as a peace treaty, sources have told Reuters.
When Renault SA <RENA.PA>, Nissan Motor Co <7201.T> and Mitsubishi Motors Corp <7211.T> announced the last strategy plan for their Alliance in September 2017, the goal was to become the world's biggest automaker by 2022. On Wednesday, the Alliance partners will outline a new plan with a less lofty objective: survival. The three carmakers are reeling from the coronavirus pandemic which engulfed them just as they were trying to rework their partnership after the arrest in 2018 and subsequent ouster of its chairman and chief architect, Carlos Ghosn.
Nissan has long resisted Renault's proposals for a full-blown merger as executives felt the French carmaker was not paying its fair share for the engineering work it did in Japan, sowing discord that some feared could wreck the partnership. "After the rain, the earth hardens," said one senior Nissan source, citing a popular Japanese proverb that means relationships become stronger after a period of strife. All five sources within the alliance, which also includes Mitsubishi Motors Corp, declined to be named because they are not authorised to speak with media.
Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.