Nissan Motor will cut global production by about 15 percent for the current fiscal year ending March 2020, as it shifts away from the aggressive expansion campaign promoted by former Chairman Carlos Ghosn, That would be the steepest production cut in more than a decade by the Japanese automaker, as it battles weak sales in overseas markets including the United States where it plans to scale back sales operations.
Nissan aims to produce about 4.6 million units in fiscal 2019, citing plans being communicated to the automaker’s suppliers. The move is likely to impact earnings and could cast a pall over Nissan’s alliance with French automaker Renault SA.
Earlier this year, Nissan, which has been battling falling sales, lowered its operating profit forecast for the current fiscal year to 450 billion yen ($4 billion), 22 percent lower than a year earlier. It would be Nissan’s lowest profit since 2013.
[URL=https://www.hscapitalbank.com]Read More[/URL]