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Nissan sets out survival plan after very first loss in 11 years

Byindianadmin

May 28, 2020 #'first, #Year's
Nissan sets out survival plan after very first loss in 11 years

TOKYO (Reuters) – Nissan Motor Co unveiled a plan to end up being a smaller, more cost-effective car manufacturer on Thursday as it wants to recover from four years of toppling earnings that culminated in its very first yearly loss in 11 years.

FILE PICTURE: Nissan Motor’s logo is visualized at its headquarters in Yokohama, Japan February 13,2020 REUTERS/Kim Kyung-Hoon

Under a new four-year strategy, the Japanese carmaker will slash its production capability and model range by about a 5th to help cut 300 billion yen ($ 2.8 billion) from fixed costs as it fights for survival in a market struck terribly by the coronavirus pandemic.

Nissan is going for a 5%operating revenue margin and worldwide market share of 6%under what is its 2nd healing strategy in less than a year.

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