Coronavirus is very harmful to Nissan

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Coronavirus is very harmful to Nissan

The automaker expects an operating loss of 470 billion yen ($4.5 billion), which will be the largest, according to Nissan, since 1977, and much more than the preliminary estimate of losses in 262,8 billion yen.

The company forecasts that revenue to decline by one fifth to 7.8 trillion yen (74,1 billion), while sales of cars in the world will fall by 16%.

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Note that Nissan announced in may of a massive restructuring plan that envisages a sharp reduction of production lines and range of vehicles.

In the first quarter, Nissan posted operational loss of $ 153,9 billion yen ($1.5 billion), which is its second quarterly loss after falling to 94.8 billion yen in the period from January to March.

Trouble Nissan underscored the fragility of its partnerships in the automotive industry with Renault, which also announced a major restructuring, because it departs from policies of Carlos Ghosn, who is currently on the wanted list and accused of financial misdeeds in Tokyo.

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