Nissan closes its fiscal year 2020 with a record loss that can of course be attributed to the corona pandemic. However, there are also bright spots.
No happy faces in Nissan’s boardroom today. The financial year closes with an operating loss of 150.7 billion yen, about € 1.14 billion. That is no less than 110 billion yen more loss than the year before, when profits were not there for the Japanese brand either. According to Automotive News, the new result is a (sad) record.
Of course, the loss is largely attributable to the corona pandemic. Nissan lost more than a quarter of its worldwide sales and invested heavily in a reorganization required as a result of the disappointing results, which of course should now start to bear fruit.
Lots of news to come
As bright spots, Nissan adds that the loss, despite everything, turns out to be less strong than predicted. The brand also says it has been working on long-term growth, including the introduction of an all-new and very popular Rogue (our X-Trail) and the new Note e-Power in Japan. Although Nissan does not explicitly mention the electric Ariya and the all-new Qashqai, these models are also very important for the future of the brand.