Renault Nissan Alliance records 1.1% drop in 2008
I just got back from Hawaii and wanted to get posting some news: The Nissan Renault Alliance has officially stated sales of 6,090,304 automobiles globally last year, which is a 1.1% fall from the 6,160,625 automobiles moved the year previous.
All in all, this downspike was due to a 4.1% decrease in sales at the Renault Group overall. Specifically,
Nissan Motor Co announced that it expects to post a group operating loss of JPY 180 billion for the fiscal year ending March 31st 2009. It is the second downward revision of the group’s profit projection for fiscal 2008.
the yearly loss will be Nissan’s initial one since Carlos Ghosn became the chief operating officer back in 1999, when the Renault Nissan alliance was initially established.
All of this comes at a point in time when French auto manufacturers will recieve government assistance and also at a time when there has generally been more operational cooperation
between Renault and Nissan, respectively. By the way if you ever visit Hawaii and want to check out a Hawaii Nissan dealer You can go here if you would like to reserve a vehicle at a Hawaii Nissan.
Meanwhile, in related news directly out of Japan, it was reported that shares shares of Nissan rose yesterday, just a day after they officially announced a majore restructuring
plan which includes cutting about twenty thousand or so positions overall within the outfit. This is obviously not great news for employment crises but pretty welcome news for many investors.
Nissan has already carried out a substantial amount of restructuring back in 1999, when they initially partnered with their French counterpart Renault. Because of that, there is not a lot of excess weight left to cut at this time.
