Reviews Nissan plans $2.8 billion in cuts, dumps Datsun brand as it restructures
At $7,500, Is This “Super Clean” 1995 Nissan 240SX A Super Steal?
Unlike most S14s you might find, today’s Nice Price or Crack Pipe 240SX hasn’t fallen victim to the drifter crowd, or seemingly to the bad maintenance brigade. Let’s see if this survivor’s price can survive our scrutiny. A number of you complained in the comments on last Friday’s 2008 Saab 9-7x Aero that it was nothing more than a Chevy Trailblazer SS that was trying to put one over on the Saab sectarians. To a certain extent you were correct, there is little to no actual Saab in the 9-7x, not even in Aero form. However, even as a homage to the brand, it’s a pretty interesting option in the crowed used SUV market.
TOKYO —plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported on Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability.
Following a three-year spell of tumbling profits,will announce its restructuring plan on May 28, its latest attempt to slash costs after a strategy of aggressive selling to chase market share has pummeled its bottom line.
Phasing out Nissan's lower-costbrand, which has been struggling in Asian and Russian markets, and closing down an additional vehicle production line are also among measures being considered, the report said.
2020 Nissan Frontier Base Price Up $7500 Due to Newly Standard V-6
All 2020 Frontiers have a new 3.8L V-6 and 9-speed automatic, while last year's base model came standard with a four-cylinder and a manual transmission. The 2020 Nissan Frontier, which has a new engine, sees a sizable price jump compared to last year's base model.The Frontier now comes standard with a 3.8-liter V-6 engine and a nine-speed automatic transmission to replace the old 4.0L and five-speed, and there's no more base four-cylinder model.The 2020 Frontier is expected to reach dealer lots in July, while an all-new model is slated to arrive for the 2021 model year.
The Japanese automaker plans to slash fixed costs in areas that include marketing and research, Bloomberg reported, citing unnamed sources. It added that the company's board has not yet reviewed the plans.
Known internally as the "performance recovery plan," the proposed steps mark a sharp break with Nissan's strategy under ousted leader Carlos Ghosn (shown above), who pursued ambitious vehicle sales targets in the United States and other major markets.
The plan is the Yokohama-based automaker's latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct — charges he denies. The scandal has further strained an already dysfunctional alliance withSA and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years.
Renault's savings plan provides for 5,000 job cuts in France
These cuts are expected to be mainly due to non-replaced retirements. The group has established a savings plan of 2 billion euros. © afp.com/Martin OFFICE Employees on an assembly line at the Renault factory in Flins, May 6, 2020 Renault plans to cut 5,000 jobs in France by 2024, mainly by departures from retirement not replaced, as part of the savings plan of two billion euros that the automaker will present Friday, says Le Figaro.
The sources said Nissan will likely kill loss-making variants for thefull-size pickup. Unprofitable variants include the single-cab and versions.
A planned shuttering of underutilized production lines will most probably hit plants in emerging markets building Datsun and other small cars hardest, they added.
"We need to chart a recovery but the rot goes deep," a source said of the many problems facing Nissan.
The second source said all markets with factories except China were being looked at for possible reductions in production capacity. That source also said, however, that there were no plans to close an entire plant or withdraw completely from any country.
Most automakers are preparing for a big financial hit from the coronavirus, but Nissan's sales and profits were falling even before the outbreak, forcing it to roll back the aggressive expansion plan pursued by Ghosn.
Nissan Expands Altima Recall | Hoods Could Open
Nissan is recalling more than 1.8 million Altima sedans to fix a faulty hood latch that has already been the reason for other recalls. If the latch fails, the vehicle’s hood may open while drivin g, creating a distraction or even blocking the driver’s view, which could cause a crash. This new recall is for Altimas from the 2013 through 2018 model years. And Altimas from 2013 through 2015 that had its hood latch repaired after recalls in 2014, 2015, and 2016 will need to be brought back in for another repair. That fix is still under development, a Nissan spokesperson told CR.
A Nissan spokeswoman declined to comment on the report.
Since Ghosn's arrest in Japan on charges of financial wrongdoing in 2018, Nissan has struggled to turn around its ousted leader's aggressive growth strategy, which has left the company with a cheapened brand and underutilised vehicle plants that have drained its finances.
Reuters has reported that the automaker has acknowledged that it must become a smaller, more efficient automaker, and that it aims to restoreties and refresh lineups to regain pricing power and profitability.
originally appeared on on Wed, 13 May 2020 08:24:00 EDT. Please see our terms for use of feeds.
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Ineos presents its new 4Х- $ Grenadier: the replacement for the Land Rover Defender .
© SP / Land Rover Ineos presents its new 4Х- $ Grenadier: the replacement for the Land Rover Defender The 4Х- $ Grenadier is presented today by Ineos, the British group of billionaire Jim Ratcliffe, who owns the Nice football club. The vehicle is expected to cost £ 30,000 to purchase. The British chemistry group Ineos of billionaire Jim Ratcliffe unveiled the contours of its 4Х- $ on Wednesday, which marks its risky entry into an automobile industry in the doldrums due to the pandemic.