
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture Dong Feng operation in China, operating profit was ¥116.7 billion, which equates to a +1.0% operating margin, and net loss was -¥671.2 billion.
Nissan Motor Co. today posted large financial losses for the 12-month period ending March 31, 2020, aka Japanese fiscal year. The global COVID-19 pandemic substantially affected Nissan’s production, sales, and other business activities in all regions. Overall market demand decreased amid the current global environment, which has resulted in a slowdown in global total industry volume (TIV). In fiscal year 2019, the global TIV fell by 6.9% to 85.73 million units. Nissan’s sales dropped 10.6% to 4.93 million vehicles; market share maintained 5.8% as previously forecast. However, Nissan’s business and brand problems go back several years. Nissan today announced the closure of three factories in Barcelona, with the loss of 3,000 jobs and a further 20,000 jobs in the supply chain. (Renault, Nissan Motor, Mitsubishi Slice, Dice World by Brand)
During fiscal year 2019, consolidated net revenue declined to ¥9.8789 trillion yen, resulting in an operating loss of ¥40.5 billion yen and a net loss1 of -¥ 671.2 billion. This includes costs associated with restructuring and impairments of ¥603.0 billion as Nissan tried to improve operational and efficiency improvements. Free cash flow for the automotive business was, gulp, negative -¥641.0 billion.
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5-Liters of Fun – Mustang Mach 1 a Go for 2021
Mustang Mach 1 is due back next spring.
The fastback that debuted during the muscle car era in 1960s – as a cut-rate version of the Boss or Shelby – returns for global buyers. It will have a naturally aspirated 5.0-liter V8 engine with performance to match but is no longer the cheap fast Mustang that made it a legend. Well, fast it will be. Price is another matter to be announced.
In 1971 Mach 1 with its competition suspension appeared – longer and larger than the original, with an assortment of powerful engine options. In 1974 Mach 1 changed again to a hatchback. This Mach 1 generation had a five-year run and beefed up its handling capabilities more with an optional Rallye Suspension Package. Continue reading →