Scandal-hit Nissan sinks into losses as sales plummet

WorldNews

Published

TOKYO (AP) — Nissan, reeling from a scandal over its former superstar executive Carlos Ghosn, sank into red ink in the latest quarter as its vehicle sales fell around the world, and the Japanese automaker slashed its profit forecast for the year. Nissan Motor Co. reported Thursday a loss of 26 billion yen ($237 million) for October-December, a reversal from the 70 billion yen profit recorded a year earlier. Quarterly sales slipped nearly 18% to 2.5 trillion yen ($23 billion), as Nissan's vehicle sales fell in Japan, the U.S., Europe and China. Chief Executive Makoto Uchida told reporters at Nissan's Yokohama headquarters that a turnaround plan was...

Full Article