Nissan incurs a loss of 1.13 billion euros

Nissan incurs a loss of 1.13 billion euros

Nissan incurs a loss of 1.13 billion euros

Nissan incurred 1.13 billion euros in the fiscal year ending March 31, nearly four times what it incurred in the previous year. This is the worst result in 12 years, although it is still slightly better than previously expressed expectations. “The cost savings are starting to pay off,” says CEO Makoto Uchida.

Nissan has been in the red since 2018-2019 and expects to make another heavy loss in the current fiscal year. This is currently estimated at 428 million euros, which is a significant improvement compared to 2020/21.

Shortage of chips

Renault’s Japanese partner is severely affected by the lack of chips, which means that it is estimated that it will be able to build a total of half a million fewer cars than originally planned from April to September. In the first three months of this year, the number of cars that rolled off the production line decreased by 130,000. This affects, among other things, the small Note, the best-selling model in Japan itself, but also some of the highest-selling in the United States.

Raw materials

In addition, prices for materials like steel and other raw materials are on the rise, Nissan warns in its annual report. “The consequences of the crisps situation and the speed with which commodity prices are rising have affected us hard,” Uchida said.

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