Nissan boss predicts more losses ahead
Nissan had to bear a $1.4b net loss in 2008 and according to Carlos Ghosn they are expecting more losses in the coming days. The company has decided to hold the launch of the products as well as growth plans to save good amount of cash.
They company definitely needs to come up with some new vehicles, as it’s quite essential to give some tough time to its rivals Honda Motor Co and Toyota Motor Corp, but now it looks quite difficult to bring some models because of slowdown in sales and after undergoing these losses.
According to Nissan CEO Carlos Ghosn, though there are some signs of easy credit access and restoration of consumer confidence, the coming days would be challenging enough for the company.
“It’s on our top priority to preserve cash, improve profitability and pursue deeper synergies in Nissan and Renault alliance,” he adds.
It was nearly eight years back when Ghosn took charge as a CEO of Nissan and now it happened first time under his regime when the company had to undergo a loss. Previously, he had announced that the companies were looking some ways to generate cash and break down the barriers between the two partners.
Nissan’ s net loss in the 4Q of the year was 276.9b yen, while the company posted a 138b yen profit for the same period last year.