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Nissan Motor Corp., based in the port city of Yokohama, said
Thursday it posted a 28.3 billion yen ($185 million) loss for
the October-December quarter, about twice the 14 billion yen
loss it recorded a year earlier.
Quarterly sales slipped 6% to nearly 3 trillion yen ($19.6
billion) from 3.2 trillion yen the year before.
“Unfortunately, when you do restructuring, there are costs that
are incurred,” Chief Executive Ivan Espinosa told reporters. “In
a way, it is expected.”
He said Nissan was on the right track but acknowledged headwinds
from President Donald Trump’s tariffs and other pressures on
sales.
Nissan, which makes the Leaf electric car and Infiniti luxury
models, is hoping to achieve an operating profit by the end of
fiscal 2026. It expects an operating loss for the current fiscal
year and is projecting a 650 billion yen ($4.2 billion) net loss
for the year through March.
A Mexican with two decades of experience at Nissan, Espinosa has
been trying to steer a turnaround at the money-losing automaker
since he took the job last year.
Nissan has slashed jobs and sold its headquarters building. It
is closing its flagship factory in Oppama, Japan, as part of its
global production restructuring efforts.
Some analysts say the popularity of electric vehicles is
subsiding, and that might hurt automakers like Nissan, which has
been bullish on EVs.
Espinosa said Nissan needs to do more to win over consumers to
EVs, including new kinds of batteries, but was optimistic about
the new Leaf model.
Nissan stocks, which have slipped over the past year, gained
0.5% on Thursday.
Nissan has a partnership with French automaker Renault and
smaller domestic automaker Mitsubishi Motors Corp.
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