Car manufacturers and the iPhone generation

433 More

Earning the right to be successful

432 More

Knowledge is power

476 More

Selling cars – it’s all about timing

714 More

Truemag

  • Home
  • About
  • Advertise
  • Archives
  • Contact
  • Subscribe

Nissan in trouble

Nissan is to cut 20,000 jobs worldwide, 8.5% of its workforce, over the next year because of a sharp fall in sales.
The Japanese carmaker made the announcement as it said it expected to make a loss of 265bn yen ($2.9bn; £2bn) for its current financial year.
Nissan chief executive Carlos Ghosn said the the firm’s “worst assumptions on the state of the global economy have been met or exceeded”.
“The global auto industry is in turmoil. Nissan is no exception.”
Nissan said the 20,000 job cuts would be made between March 2009 and March 2010
The reduction will see the size of its global workforce fall to 215,000 from 235,000, although Nissan has yet to say which plants will be affected, and by how much.
It added that it would also be talking to unions about cutting working hours.
The company had already announced job cuts last month, including 1,200 at its UK plant in Sunderland.
Nissan also said on Monday that it sold 731,000 vehicles worldwide between October and December, down 18.6% from a year before.
This resulted in a net loss of 83.2bn yen, compared with a 132.2bn profit a year earlier.
Car industry analyst Mamoru Katou said the job losses would make Nissan unpopular in its home country.
“The job cuts will hurt Japanese parts-makers, too, and in the long run diminish the Nissan brand value in Japan,” he said.
Most of the world’s other main carmakers have also seen sales and profits slump as a result of the global economic slowdown.
As a result, there is a growing trend of cutting production and jobs.
Since the start of the year, Honda has announced 3,100 redundancies, while General Motors is reducing its workforce by 2,000.
Other car firms, such as Toyota, Porsche, Honda and BMW, have announced reductions in output as fewer people buy new cars.
Source: BBC News

Feb 9, 2009In51der
  • Nissan and Chrysler abandon tie-up plan
  • Big losses reported by Daimler and Nissan
  • Nissan banking on electric
  • Nissan losses better than expected
  • New Nissan model secures Sunderland jobs
  • Nissan to cut 20,000 jobs worldwide
  • Saying goodbye to the company carClosing time - converting prospects into customers
    You Might Also Like
     
    Dealers hope 58 plate will up sales
     
    Breakdown of talks brings concern over Vauxhall future
    In51der

    Motor Trade Insider - Bridging the gap between the customer and the Motor Trade

    10 years ago Manufacturers, Newseconomy, japan nissan financial troubles, nissan financial trouble, nissan in trouble, nissan trobel, nissan trouble, profit, toyota47
    Most viewed
    Top 100 UK Dealer Groups
    29,752 views
    The car sales process and the “9 point plan”
    8,865 views
    webuyanycar review – They will buy any car but beware of the asterisk
    3,977 views
    Most commented
    Car sales and the power of silence…
    25 Comments
    Car dealers still not prepared to play the “we buy any car” game
    23 Comments
    A Traders Tale – Part Four
    22 Comments
    Win a pre-loaded Ipod Shuffle!
    19 Comments
    Bargain of the Week – StreetKa 1.6i Luxury
    14 Comments
    Bridal Hair Berkshire
    Fox Body to 2018 Mustang Parts
    and Accessories
    oil change grand prairie
    About MTI

    Motor Trade Insider
    is written by people working actively in the motor trade for people on the inside and people on the outside.

    Our aims
    Build a bridge between consumers and the trade, create Interesting and informative content, break down barriers and create better understanding, expose bad practices and rip-offs and promote outstanding products and service.
    Have something to say?
    We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please contact us if you would like us to consider you. Make sure you give us details of your own blog or a link to some articles you have written.
    2017 © Motor Trade Insider
    Truemag theme by StrictThemes