Nissan cuts 9,000 jobs as its vehicles fail to sell

Chikane_GTR

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Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs.

Chief Executive Makoto Uchida said he was taking a 50% pay cut to take responsibility for the dismal results, while promising that a turnaround was coming.

Nissan Motor Corp. announced a global workforce reduction of 9,000 people, or about 6% of its more than 133,000 employees, as well as a plan to slash global production capacity by 20%.

More at the source.
https://apnews.com/article/nissan-j...n=TrueAnthem&utm_medium=AP&utm_source=Twitter
 
Probably because Nissan's lineup of cars is terrible, and some are outdated, at least in the US. I've always said that Nissan is just a financing company that happens to sell cars, and they make the equivalent of automotive white goods. That's why the whole stigma of Big Altima Energy exists. It wouldn't surprise me to see Nissan leave the US entirely and focus only on Japan and parts of Europe to cut costs. Although, Mitsubishi still manages to exist in the US for some reason, so many Nissan can continue as well.
 
Honestly, I'm more surprised Mitsubishi continues to soldier on in the US. Besides the Outlander which is okay, the rest of the lineup is... shocking to say the least. In that regard, I would be less surprised seeing Mitsubishi leave and focus on Asia and Europe - Nissan by comparsion seems to be doing better. Not saying it's good-good, but it's probably enough for them to reliably stay in the US.
 
I mean interests rates are so bad that someone with a Nissan credit score probably has an APR that's the price of the car every year.

Probably because Nissan's lineup of cars is terrible, and some are outdated, at least in the US.
And a lot of them were the former even when they weren't yet the latter!
 
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Probably because Nissan's lineup of cars is terrible, and some are outdated, at least in the US.
You think you guys have it bad, take a look at Nissan's UK offerings (this is literally it):
 

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The sad thing is their strategy pays off here. Irish motorists are suckers for Qashqais.
 
Their current European lineup is terrible. Crossovers and SUVs all having nearly the same silhouette, and no sports cars. Incredibly uninspiring.

I miss going with my dad to the local Nissan dealership when I was a kid. The store facade was decorated with the blue, red and white colour scheme of the old Nissan logo, and the showroom was packed with variants of the Micra, Sunny, Almera, Bluebird, Primera, Laurel, Maxima and Patrol. Good variety of actual cars. Plus they had brochures for the 300ZX and 200SX. We didn’t know how good we had it.
 
What will survive longer? Nissan's financial solvency or a Nissan CVT.

There is an incredible number of brand new Nissans driving around. Really not sure how they aren’t making money. The only thing they have that doesn’t sell in reasonable numbers is the 400Z but I also haven’t seen a fun commercial of that car in like a year.
 
There is an incredible number of brand new Nissans driving around. Really not sure how they aren’t making money. The only thing they have that doesn’t sell in reasonable numbers is the 400Z but I also haven’t seen a fun commercial of that car in like a year.

From what I understand, although I don’t know first hand because that car isn’t sold at all in Europe, is that it’s priced much too high for what it is. My sources across the pond go on to say the same is true of pretty much any sports car in the US, that since Covid dealership mark ups have gone through the roof which has led analysts to wrongly conclude that there really isn’t a market for sports cars over there - when in reality there probably would be if consumers weren’t continually having their pants pulled down on pricing.

Any Americans here care to share any insight into this? Is there truth to it?
 
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The sad thing about Nissan is that this outcome has not been very hard to predict...like from as far back as a decade ago.

@Clinton Ducks

Just checking local inventory there is still markup on:
Civic Type R
Supra

No markup on:
GR86
Integra Type S,
MX-5
Elantra N
Golf GTI

Under MSRP on:
WRX (thousands under, in most cases)
BRZ
C8 Corvette (depending on trim)

The thing is, the base prices are heavily inflated due to the markups a few years ago, particularly on the more limited production cars. I find it really hard to believe an Acura Integra Type S is a $55k car, for instance. Most Golf GTIs have around $38k MSRP. An MX-5 Club RF is $42k! There isn't really a sporty/performance car to be had under $30k anymore, and the used market has tanked which I think makes it even less attractive to buy new.

Real median income in the US was actually lower in 2023 compared to 2019 and yet a base MX-5 is a full 15% more expensive than it was in 2019....despite it being the same car. However, a 2023 MX-5 is cheaper vs 2023 median household than a 1990 MX-5 vs 1990 median household income...by a lot. Nobody is buying sports cars right now because the biggest population groups are not in sports-car phases of life. Millenials are having/raising kids, Gen Z is...tiktoking and broke...and boomers are sliding into their graves. Gen X is probably the only cohort in a sports-car phase of life...but that's not a very big group, and they are getting on the older side of sports car desiring too. Automakers are pumping out CUVs because that's what people need right now.
 
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The sad thing about Nissan is that this outcome has not been very hard to predict...like from as far back as a decade ago.

@Clinton Ducks

Just checking local inventory there is still markup on:
Civic Type R
Supra

No markup on:
GR86
Integra Type S,
MX-5
Elantra N
Golf GTI

Under MSRP on:
WRX (thousands under, in most cases)
BRZ
C8 Corvette (depending on trim)

The thing is, the base prices are heavily inflated due to the markups a few years ago, particularly on the more limited production cars. I find it really hard to believe an Acura Integra Type S is a $55k car, for instance. Most Golf GTIs have around $38k MSRP. An MX-5 Club RF is $42k! There isn't really a sporty/performance car to be had under $30k anymore, and the used market has tanked which I think makes it even less attractive to buy new.

Real median income in the US was actually lower in 2023 compared to 2019 and yet a base MX-5 is a full 15% more expensive than it was in 2019....despite it being the same car. However, a 2023 MX-5 is cheaper vs 2023 median household than a 1990 MX-5 vs 1990 median household income...by a lot. Nobody is buying sports cars right now because the biggest population groups are not in sports-car phases of life. Millenials are having/raising kids, Gen Z is...tiktoking and broke...and boomers are sliding into their graves. Gen X is probably the only cohort in a sports-car phase of life...but that's not a very big group, and they are getting on the older side of sports car desiring too. Automakers are pumping out CUVs because that's what people need right now.

Great explanation of the situation, thank you.
 
The sad thing about Nissan is that this outcome has not been very hard to predict...like from as far back as a decade ago.

@Clinton Ducks

Just checking local inventory there is still markup on:
Civic Type R
Supra

No markup on:
GR86
Integra Type S,
MX-5
Elantra N
Golf GTI

Under MSRP on:
WRX (thousands under, in most cases)
BRZ
C8 Corvette (depending on trim)

The thing is, the base prices are heavily inflated due to the markups a few years ago, particularly on the more limited production cars. I find it really hard to believe an Acura Integra Type S is a $55k car, for instance. Most Golf GTIs have around $38k MSRP. An MX-5 Club RF is $42k! There isn't really a sporty/performance car to be had under $30k anymore, and the used market has tanked which I think makes it even less attractive to buy new.

Real median income in the US was actually lower in 2023 compared to 2019 and yet a base MX-5 is a full 15% more expensive than it was in 2019....despite it being the same car. However, a 2023 MX-5 is cheaper vs 2023 median household than a 1990 MX-5 vs 1990 median household income...by a lot. Nobody is buying sports cars right now because the biggest population groups are not in sports-car phases of life. Millenials are having/raising kids, Gen Z is...tiktoking and broke...and boomers are sliding into their graves. Gen X is probably the only cohort in a sports-car phase of life...but that's not a very big group, and they are getting on the older side of sports car desiring too. Automakers are pumping out CUVs because that's what people need right now.
I 100% agree, I'm a Gen-X'er and there ain't too many of us in that small window of no-more daycare costs and not paying for college (assuming thats even a thing anymore???). At any rate, the price of other new sports cars and the increased values in cars like an NSX, to me, provide more value to buy an Emira.

Specific to Nissan, just last month I went to test drive a Z and my feet kept getting stuck in the underhang above the pedals >_< come now, Nissan, why limit the space around the pedals? I'm sure if I peel that underhang back, it's nothing but air.


Jerome
 
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Nobody is buying sports cars right now because the biggest population groups are not in sports-car phases of life. Millenials are having/raising kids, Gen Z is...tiktoking and broke...and boomers are sliding into their graves. Gen X is probably the only cohort in a sports-car phase of life...but that's not a very big group, and they are getting on the older side of sports car desiring too. Automakers are pumping out CUVs because that's what people need right now.
And the Millenials who want a sporty car are likely buying ones from the 90s/00s since that's what they had on their bedroom walls. Why would I spend $50k on a Z when I could buy a 300ZX or even import a Skyline? I mean, I can get a really good-condition R32 GT-R for less than $40k. That sound infinitely cooler than spending $10k more on a whatever Nissan decided to make with the Z.
 
And the Millenials who want a sporty car are likely buying ones from the 90s/00s since that's what they had on their bedroom walls. Why would I spend $50k on a Z when I could buy a 300ZX or even import a Skyline? I mean, I can get a really good-condition R32 GT-R for less than $40k. That sound infinitely cooler than spending $10k more on a whatever Nissan decided to make with the Z.
I've decided lately that I've got mostly zero interest in newer sports cars. The older ones offered what I want and can be easily modified with modern QOL improvements like Carplay. My 987 is a 2007 and is perfectly good. Somebody else has already taken the depreciation hit. That said, if I could've gotten this for less...

Nissan_iDX_Detroit_2014-6049.jpg

toyota-s-fr-2015_4.jpg


...I may have pulled the trigger. I say "less" because it's simply worth less. The 987's values have begun appreciating, whereas new sports cars like this will always depreciate for at least ten years. I'd lose my ass, and despite the car being newer it's actually less car for the money. If either of these cars were made and cost $25-30k I would've strongly considered it. Currently, the Miata is too expensive for what I want (a hardtop) and the GR86 already starts at that upper limit and has much less character or charisma than a used Porsche.
 
I've decided lately that I've got mostly zero interest in newer sports cars. The older ones offered what I want and can be easily modified with modern QOL improvements like Carplay. My 987 is a 2007 and is perfectly good. Somebody else has already taken the depreciation hit. That said, if I could've gotten this for less...

Nissan_iDX_Detroit_2014-6049.jpg

toyota-s-fr-2015_4.jpg


...I may have pulled the trigger. I say "less" because it's simply worth less. The 987's values have begun appreciating, whereas new sports cars like this will always depreciate for at least ten years. I'd lose my ass, and despite the car being newer it's actually less car for the money. If either of these cars were made and cost $25-30k I would've strongly considered it. Currently, the Miata is too expensive for what I want (a hardtop) and the GR86 already starts at that upper limit and has much less character or charisma than a used Porsche.
This is what I keep running into. I've gone to drive both an ND2 MX5 and a first gen 86 (in the latter case, 3 different times!) fully expecting them to tempt me out of my 986. They should be better, right? But neither one of them could match what is pretty much the lowest Porsche on the totem pole, in terms of character and desirability. For me the 86 gets a lot closer as the controls and dynamics are better than the MX5 but damn did that engine lose me. (I actually found the Fiat 500 Abarth to have more character than either the ND or 86 back when they were all still available new) I haven't tried a new GR86/BRZ, but I suspect the drab interior would be disappointing. The S-FR is a great concept, but we'll see if it ever makes it to reality (I love driving it in GT7). Lastly there is the kind of moonshot Mazda Iconic SP and questionably legitimate MR2 rumors. Toyota should put the Yaris GR drivetrain into something rear wheel drive. Or I could just get something older, like an F Type or 981. As far as the Z...it's too heavy, it's too expensive, and it's too uninspiring for it to even get on the list of cars I'm interested in. If only I could get ahold of a Honda S660...
 
This is what I keep running into. I've gone to drive both an ND2 MX5 and a first gen 86 (in the latter case, 3 different times!) fully expecting them to tempt me out of my 986. They should be better, right? But neither one of them could match what is pretty much the lowest Porsche on the totem pole, in terms of character and desirability. For me the 86 gets a lot closer as the controls and dynamics are better than the MX5 but damn did that engine lose me. (I actually found the Fiat 500 Abarth to have more character than either the ND or 86 back when they were all still available new) I haven't tried a new GR86/BRZ, but I suspect the drab interior would be disappointing. The S-FR is a great concept, but we'll see if it ever makes it to reality (I love driving it in GT7). Lastly there is the kind of moonshot Mazda Iconic SP and questionably legitimate MR2 rumors. Toyota should put the Yaris GR drivetrain into something rear wheel drive. Or I could just get something older, like an F Type or 981. As far as the Z...it's too heavy, it's too expensive, and it's too uninspiring for it to even get on the list of cars I'm interested in. If only I could get ahold of a Honda S660...
I understand that. Then, watch the used car market. If the Z are tanking, it’ll seem like a bargain to have a newer car that has the classic Z look with up to date features with good power and the fun in finding ways to make it lighter.

Plus, why the heck did you bring up the S660? You’re killin’ me. Man, I’m still craving one and this popped up in my feed last night.


They’re still in the $30,000-$40,000AUD range. So, I can wait. ;)
 
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