Nissan: Sales, Marketing, and Financial News
09-06-2006, 12:57 PM
#281
Senior Moderator
Originally Posted by gavriil
SFB? 
09-28-2006, 06:26 AM
#283
Suzuka Master
"GM chief says Renault-Nissan talks may continue"
PARIS (Reuters) -- General Motors Corp. Chief Executive Rick Wagoner said Thursday he was open to an alliance with Renault-Nissan and made clear that talks could be extended beyond a mid-October deadline set by the carmakers.
Talks with his opposite number at Renault and Nissan Motor Co Ltd (Charts) had gone well and the U.S. carmaker was open to an alliance, but GM's own restructuring plan was what will save it, Wagoner told reporters at the Paris auto show.
"You will see a conclusion, which could range from continued studies to a decision to proceed or a decision not to proceed," Wagoner said of the Oct. 15 deadline set by the carmakers.
He also said GM does not share any special information with the U.S. automaker's largest shareholder, Kirk Kerkorian, who proposed the three-way alliance in the first place.
Wagoner was positive about progress in turning around GM, which has been hit by huge losses and a dramatic fall in its U.S. market share. Japan's Toyota Motor Corp (Charts) is on track to overtake GM as the world's largest automaker by volume.
GM lost $10.6 billion last year, but has been making progress in cost cutting in recent months, which has increased doubts over whether it will now agree to the sweeping global deal with France's Renault and Japan's Nissan outlined by Carlos Ghosn, who is CEO of both companies.
Turnaround plan
"We have made it very clear that we have a pretty detailed turnaround and growth strategy for GM which is working very well and that is what is going to save the company and make the company prosperous," Wagoner said.
"It's moving along really at breakneck speed ... (it's) impressive to see the support and reaction we have got across the board," Wagoner said of the restructuring plan's progress.
Wagoner met Ghosn in Paris on Wednesday to discuss the possible alliance. Earlier he said talks had gone well and that he expected to reach a conclusion by Oct. 15.
"We took the time to be updated on the work of the team. (It) was a very fact-based conversation. The teams are continuing to do the work and will reach a conclusion by October 15 and we will decide what the next steps are," Wagoner said.
"There's been a pretty thoughtful process around the synergies," the GM CEO said after a GM event at the Paris auto show, a major event in the car industry's calendar.
"We are wide open to that," Wagoner said, with reference to alliances with other carmakers.
He also said he was optimistic about talks with bankrupt U.S. auto parts maker Delphi Corp. GM, Delphi and its unions are trying to negotiate a new labor contract to avoid a court ruling that could lead to a strike.
"There are still some issues to work through but I see continued progress. We remain optimistic that by far the best solution is one we all negotiate around the table. I continue to be optimistic that we can do that," Wagoner said.
He welcomed the fact that on Wednesday some 62 percent of Delphi's U.S. union workers had opted out of the company through retirements or buyouts.
"That doesn't solve the issue but it is a big help."
[urlhttp://money.cnn.com/2006/09/28/news/international/bc.autos.show.gm.reut/index.htm?postversion=2006092806[/url]
Talks with his opposite number at Renault and Nissan Motor Co Ltd (Charts) had gone well and the U.S. carmaker was open to an alliance, but GM's own restructuring plan was what will save it, Wagoner told reporters at the Paris auto show.
"You will see a conclusion, which could range from continued studies to a decision to proceed or a decision not to proceed," Wagoner said of the Oct. 15 deadline set by the carmakers.
He also said GM does not share any special information with the U.S. automaker's largest shareholder, Kirk Kerkorian, who proposed the three-way alliance in the first place.
Wagoner was positive about progress in turning around GM, which has been hit by huge losses and a dramatic fall in its U.S. market share. Japan's Toyota Motor Corp (Charts) is on track to overtake GM as the world's largest automaker by volume.
GM lost $10.6 billion last year, but has been making progress in cost cutting in recent months, which has increased doubts over whether it will now agree to the sweeping global deal with France's Renault and Japan's Nissan outlined by Carlos Ghosn, who is CEO of both companies.
Turnaround plan
"We have made it very clear that we have a pretty detailed turnaround and growth strategy for GM which is working very well and that is what is going to save the company and make the company prosperous," Wagoner said.
"It's moving along really at breakneck speed ... (it's) impressive to see the support and reaction we have got across the board," Wagoner said of the restructuring plan's progress.
Wagoner met Ghosn in Paris on Wednesday to discuss the possible alliance. Earlier he said talks had gone well and that he expected to reach a conclusion by Oct. 15.
"We took the time to be updated on the work of the team. (It) was a very fact-based conversation. The teams are continuing to do the work and will reach a conclusion by October 15 and we will decide what the next steps are," Wagoner said.
"There's been a pretty thoughtful process around the synergies," the GM CEO said after a GM event at the Paris auto show, a major event in the car industry's calendar.
"We are wide open to that," Wagoner said, with reference to alliances with other carmakers.
He also said he was optimistic about talks with bankrupt U.S. auto parts maker Delphi Corp. GM, Delphi and its unions are trying to negotiate a new labor contract to avoid a court ruling that could lead to a strike.
"There are still some issues to work through but I see continued progress. We remain optimistic that by far the best solution is one we all negotiate around the table. I continue to be optimistic that we can do that," Wagoner said.
He welcomed the fact that on Wednesday some 62 percent of Delphi's U.S. union workers had opted out of the company through retirements or buyouts.
"That doesn't solve the issue but it is a big help."
[urlhttp://money.cnn.com/2006/09/28/news/international/bc.autos.show.gm.reut/index.htm?postversion=2006092806[/url]
10-04-2006, 01:55 PM
#284
Senior Moderator
Talks end -- http://biz.yahoo.com/ap/061004/gm_alliance.html?.v=12
AP
GM-Renault/Nissan Talks Called Off
Wednesday October 4, 2:52 pm ET
By Sarah Karush, Associated Press Writer
GM-Renault/Nissan Alliance Talks Called Off; GM Shares Fall in Afternoon Trading
DETROIT (AP) -- General Motors Corp., Renault SA and Nissan Motor Co. said Wednesday that they have cut off discussions about forming a three-continent automotive alliance after GM sought compensation for its participation.
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"The parties mutually recognized that significant aggregate synergies might result from the alliance," the three companies said in a joint statement. "However the parties did not agree on either the total amount of aggregate synergies or the distribution of those benefits."
GM had proposed that France's Renault and Japan's Nissan, which are already joined in an alliance, provide compensation as part of a potential link-up, the companies said.
The reason for that was twofold, GM spokesman Brian Akre said. First of all, GM wanted payment because it believed it would have benefited from the alliance far less than Renault and Nissan would have, Akre said.
In addition, an alliance could have prevented GM from teaming up with other companies, and the automaker felt it should be compensated for giving up those potential opportunities, he said.
GM also argued that if Renault-Nissan acquired a significant stake in the U.S. automaker, GM would be prevented from joining any other alliances.
But Renault and Nissan believe compensation would be "contrary to the spirit of any successful alliance," the companies said in the statement.
GM shares fell 19 cents to $33.22 in afternoon trading on the New York Stock Exchange.
GM is the world's largest automaker but has been has been losing market share at home to more fuel efficient vehicles from Asian rivals. It is also at a disadvantage to Asian automakers because of large accumulated pension and health costs.
It lost more than $10.6 billion last year but has said a restructuring program that includes massive job cuts and plant closings is already starting to pay off.
The announcement came ahead of an Oct. 15 deadline that the two sides had set for evaluating the proposal and a week after GM Chairman and Chief Executive Rick Wagoner and Renault-Nissan CEO Carlos Ghosn met face to face in Paris. Afterward, GM officials voiced skepticism about the proposed linkup, saying Renault-Nissan stands to benefit more than GM.
The idea to join the alliance has been promoted by billionaire investor Kirk Kerkorian, who owns a 9.9 percent stake in GM. After Wagoner's meeting with Ghosn, Kerkorian turned up the heat by announcing he might increase his stake in the company. He also called for an evaluation of the alliance proposals by independent advisers.
Kerkorian's Tracinda Corp. said Wednesday that it was disappointed about the end of the alliance talks.
"We believe that General Motors' participation in a global alliance with Renault and Nissan would have enabled GM to realize substantial synergies and cost savings," Tracinda spokeswoman Carrie Bloom said in a statement. "We regret that the board did not obtain its own independent evaluation of the alliance."
GM's board met all day Tuesday, but made no statement about the alliance talks or Kerkorian's proposal.
GM-Renault/Nissan Talks Called Off
Wednesday October 4, 2:52 pm ET
By Sarah Karush, Associated Press Writer
GM-Renault/Nissan Alliance Talks Called Off; GM Shares Fall in Afternoon Trading
DETROIT (AP) -- General Motors Corp., Renault SA and Nissan Motor Co. said Wednesday that they have cut off discussions about forming a three-continent automotive alliance after GM sought compensation for its participation.
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"The parties mutually recognized that significant aggregate synergies might result from the alliance," the three companies said in a joint statement. "However the parties did not agree on either the total amount of aggregate synergies or the distribution of those benefits."
GM had proposed that France's Renault and Japan's Nissan, which are already joined in an alliance, provide compensation as part of a potential link-up, the companies said.
The reason for that was twofold, GM spokesman Brian Akre said. First of all, GM wanted payment because it believed it would have benefited from the alliance far less than Renault and Nissan would have, Akre said.
In addition, an alliance could have prevented GM from teaming up with other companies, and the automaker felt it should be compensated for giving up those potential opportunities, he said.
GM also argued that if Renault-Nissan acquired a significant stake in the U.S. automaker, GM would be prevented from joining any other alliances.
But Renault and Nissan believe compensation would be "contrary to the spirit of any successful alliance," the companies said in the statement.
GM shares fell 19 cents to $33.22 in afternoon trading on the New York Stock Exchange.
GM is the world's largest automaker but has been has been losing market share at home to more fuel efficient vehicles from Asian rivals. It is also at a disadvantage to Asian automakers because of large accumulated pension and health costs.
It lost more than $10.6 billion last year but has said a restructuring program that includes massive job cuts and plant closings is already starting to pay off.
The announcement came ahead of an Oct. 15 deadline that the two sides had set for evaluating the proposal and a week after GM Chairman and Chief Executive Rick Wagoner and Renault-Nissan CEO Carlos Ghosn met face to face in Paris. Afterward, GM officials voiced skepticism about the proposed linkup, saying Renault-Nissan stands to benefit more than GM.
The idea to join the alliance has been promoted by billionaire investor Kirk Kerkorian, who owns a 9.9 percent stake in GM. After Wagoner's meeting with Ghosn, Kerkorian turned up the heat by announcing he might increase his stake in the company. He also called for an evaluation of the alliance proposals by independent advisers.
Kerkorian's Tracinda Corp. said Wednesday that it was disappointed about the end of the alliance talks.
"We believe that General Motors' participation in a global alliance with Renault and Nissan would have enabled GM to realize substantial synergies and cost savings," Tracinda spokeswoman Carrie Bloom said in a statement. "We regret that the board did not obtain its own independent evaluation of the alliance."
GM's board met all day Tuesday, but made no statement about the alliance talks or Kerkorian's proposal.
10-13-2006, 07:33 AM
#285
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Ex-GM director York mum on plans in Wall Street visit - - Source: Autonews.com
NEW YORK -- Jerry York, who abruptly resigned from the board of General Motors last week, today declined to comment on GM or his future plans amid expectations he could be readying a proxy fight on behalf of billionaire investor Kirk Kerkorian.
York, who serves as an advisor to Kerkorian, GM's largest individual investor, resigned last week in a break over strategy and board oversight at the No. 1 automaker triggered by the collapse of alliance talks between GM and Renault-Nissan.
"I'm not going to talk about GM," York told Reuters before a closed-door presentation to analysts and investors that marked his first Wall Street appearance since leaving GM's board.
He also declined to comment when asked when he might say something further about GM after a pointed resignation letter that criticized the automaker's board for not challenging management and raised doubts about GM's longer-term outlook.
In a speech at a seminar organized by investment bank Jefferies & Co., York said he would not comment directly on the outlook for GM out of fear of running afoul of U.S. securities regulators, according to people who attended the event.
But York, a former Chrysler and IBM executive, spoke at length about the competitiveness problems facing the U.S. auto industry, people attending the event said.
The event was closed to the media.
Expectations are running high that York could be readying a proxy fight for control of GM on behalf of Kerkorian, who owns a 9.9-percent stake in GM through his Los Angeles-based investment firm Tracinda Corp.
York has been a paid advisor to Kerkorian and served until his departure last week as the billionaire investor's representative on GM's board.
GM has rejected York's claim about lax board oversight, and company executives, including CEO Rick Wagoner, point to the progress the company has made in a restructuring that has cut over 30,000 jobs and $9 billion in costs this year.
GM shares, which lost ground on York's resignation last week, remain up almost 70 percent since the start of the year.
In his speech, York said that Detroit-based automakers needed to be able to produce a low-cost vehicle to compete in emerging markets, even as they work to stabilize declining market share in North America, the largest market by volume, people who attended the event said.
York said Detroit automakers also needed to eliminate the quality gap with leading Asian automakers, such as Toyota Motor Co., so that differences in quality were no longer an issue for consumers, people who attended said.
York was also quoted as saying that Detroit automakers had too many brands and had balked at reducing the number because of the initial costs of doing so.
That was a point that York made earlier this year, before he joined the GM board in February. In January at a speech that detailed Kerkorian's reform plans for GM, York had called on the automaker to sell off Saab and Hummer.
York and Kerkorian had brokered the initial alliance talks between GM and Renault-Nissan, both of which are headed by Carlos Ghosn.
York declined to comment after his speech today.
York, who serves as an advisor to Kerkorian, GM's largest individual investor, resigned last week in a break over strategy and board oversight at the No. 1 automaker triggered by the collapse of alliance talks between GM and Renault-Nissan.
"I'm not going to talk about GM," York told Reuters before a closed-door presentation to analysts and investors that marked his first Wall Street appearance since leaving GM's board.
He also declined to comment when asked when he might say something further about GM after a pointed resignation letter that criticized the automaker's board for not challenging management and raised doubts about GM's longer-term outlook.
In a speech at a seminar organized by investment bank Jefferies & Co., York said he would not comment directly on the outlook for GM out of fear of running afoul of U.S. securities regulators, according to people who attended the event.
But York, a former Chrysler and IBM executive, spoke at length about the competitiveness problems facing the U.S. auto industry, people attending the event said.
The event was closed to the media.
Expectations are running high that York could be readying a proxy fight for control of GM on behalf of Kerkorian, who owns a 9.9-percent stake in GM through his Los Angeles-based investment firm Tracinda Corp.
York has been a paid advisor to Kerkorian and served until his departure last week as the billionaire investor's representative on GM's board.
GM has rejected York's claim about lax board oversight, and company executives, including CEO Rick Wagoner, point to the progress the company has made in a restructuring that has cut over 30,000 jobs and $9 billion in costs this year.
GM shares, which lost ground on York's resignation last week, remain up almost 70 percent since the start of the year.
In his speech, York said that Detroit-based automakers needed to be able to produce a low-cost vehicle to compete in emerging markets, even as they work to stabilize declining market share in North America, the largest market by volume, people who attended the event said.
York said Detroit automakers also needed to eliminate the quality gap with leading Asian automakers, such as Toyota Motor Co., so that differences in quality were no longer an issue for consumers, people who attended said.
York was also quoted as saying that Detroit automakers had too many brands and had balked at reducing the number because of the initial costs of doing so.
That was a point that York made earlier this year, before he joined the GM board in February. In January at a speech that detailed Kerkorian's reform plans for GM, York had called on the automaker to sell off Saab and Hummer.
York and Kerkorian had brokered the initial alliance talks between GM and Renault-Nissan, both of which are headed by Carlos Ghosn.
York declined to comment after his speech today.
10-13-2006, 07:35 AM
#286
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It will be extremely interesting if York/Kerkorian try to fight a proxy battle at GM. If York visited Wall Street, it makes sense that he if "feeling" the mutual fund mgrs and how they feel about the current board. If he has enough support and after an official investors' vote, he could take the CEO position and replace the board and countless executives. That would be a big distraction for GM though (business-wise).
10-13-2006, 02:41 PM
#287
2G TLX-S
But then even if York takes the CEO position, there are still lots of hurdle to return GM to profitability, namely the Union contracts and the health care burden messes. A full board-full of directors are easy to fight, but not that easy with hundreds of thousands of union workers and the onslaught of imports.
11-01-2006, 08:05 PM
#288
I'm the Firestarter
Nissan gets risky in attempt to get noticed
They seem to have their products right, now they're cranking up their marketing.
http://www.canada.com/nationalpost/f...732ef1&k=20901
Nissan gets risky in attempt to get noticed
'Market very crowded'
Published: Wednesday, November 01, 2006
In any given month in Canada's automobile market, General Motors Corp. snatches the number one sales spot and four companies fight it out for number two: Ford, DaimlerChrysler, Toyota and Honda.
So what do you do when you're number six or seven? How do you get noticed, even if you have one of the strongest product lineups in the industry?
If you're Nissan Motor Co., you try bolder tactics, even if you're not sure it will pay off.
In the past few months, Nissan has wrapped its ads around entire streetcars rolling past nightclubs in Toronto, flooded transit stations in Ontario and Quebec with pictures of its cars and grabbed consumers with TV spots that pissed off some and amused others.
The company says it will try more unconventional ways to connect with potential buyers as it drives to increase sales.
"When you're a brand with 4%-to-5% market share, you have to do things differently," Simon Thomas, vice-president of sales and marketing for Nissan Canada, said in an interview. "If you're just trying to do what the bigger guys are doing, it's going to be difficult to cut through."
Auto analyst Dennis DesRosiers says Nissan has no choice. It's do it or get lost in the din.
From 1980 to 2000, automakers typically introduced about 30 to 35 new vehicle models each year in Canada, a reasonable number that consumers could digest, Mr. DesRosiers said. During the past six years, however, that has jumped to between 40 and 45 new models a year. Next year, there are 61 known new models.
"The market is just very crowded in terms of new products," Mr. DesRosiers said.
"Every single company can legitimately stand up and say we have a record amount of spectacular product coming. So then how do you differentiate yourself? You can't just throw money at it. You have to be more innovative with your programs and take risk. And I like the fact that Nissan is taking risk."
Several radio and TV stations across Canada devoted airtime in September to debating the merits of the automaker's latest TV spot, which shows a sales rep pitching the new special-edition X-Trail Bonavista SUV in a sometimes incomprehensible and rapid-fire Atlantic Canadian accent. The ad offended some, who said it backfired by mocking Newfoundlanders instead of honouring them by naming the vehicle after the historic fishing town there. Others said they found the ad hilarious.
Nissan, Japan's second-biggest automaker, has touched off nerves in other countries where it has tried to push limits. This past summer, the company pulled one of several commercials in New Zealand for its Tiida model (sold in Canada as the Versa) after receiving complaints it was too racy. It showed Sex and the City's Kim Cattrall talking to a Nissan salesman and saying sexually suggestive things about the vehicle like "Why didn't you tell me it was so big?"
Nissan Canada executives said they will continue to push off-beat campaigns such as their "Larger than Life Road Trip" event that recently ended. The campaign pitted 10 young contestants against each other in various "adventure-reality" challenges across the country and allowed Internet users to track their progress.
Nissan says it got 255,000 hits to its Web site through the contest's one-month run. The winner won a Versa hatchback, which is showing strong sales since its debut in Canada.
nvanpraet@nationalpost.com
© National Post 2006
'Market very crowded'
Published: Wednesday, November 01, 2006
In any given month in Canada's automobile market, General Motors Corp. snatches the number one sales spot and four companies fight it out for number two: Ford, DaimlerChrysler, Toyota and Honda.
So what do you do when you're number six or seven? How do you get noticed, even if you have one of the strongest product lineups in the industry?
If you're Nissan Motor Co., you try bolder tactics, even if you're not sure it will pay off.
In the past few months, Nissan has wrapped its ads around entire streetcars rolling past nightclubs in Toronto, flooded transit stations in Ontario and Quebec with pictures of its cars and grabbed consumers with TV spots that pissed off some and amused others.
The company says it will try more unconventional ways to connect with potential buyers as it drives to increase sales.
"When you're a brand with 4%-to-5% market share, you have to do things differently," Simon Thomas, vice-president of sales and marketing for Nissan Canada, said in an interview. "If you're just trying to do what the bigger guys are doing, it's going to be difficult to cut through."
Auto analyst Dennis DesRosiers says Nissan has no choice. It's do it or get lost in the din.
From 1980 to 2000, automakers typically introduced about 30 to 35 new vehicle models each year in Canada, a reasonable number that consumers could digest, Mr. DesRosiers said. During the past six years, however, that has jumped to between 40 and 45 new models a year. Next year, there are 61 known new models.
"The market is just very crowded in terms of new products," Mr. DesRosiers said.
"Every single company can legitimately stand up and say we have a record amount of spectacular product coming. So then how do you differentiate yourself? You can't just throw money at it. You have to be more innovative with your programs and take risk. And I like the fact that Nissan is taking risk."
Several radio and TV stations across Canada devoted airtime in September to debating the merits of the automaker's latest TV spot, which shows a sales rep pitching the new special-edition X-Trail Bonavista SUV in a sometimes incomprehensible and rapid-fire Atlantic Canadian accent. The ad offended some, who said it backfired by mocking Newfoundlanders instead of honouring them by naming the vehicle after the historic fishing town there. Others said they found the ad hilarious.
Nissan, Japan's second-biggest automaker, has touched off nerves in other countries where it has tried to push limits. This past summer, the company pulled one of several commercials in New Zealand for its Tiida model (sold in Canada as the Versa) after receiving complaints it was too racy. It showed Sex and the City's Kim Cattrall talking to a Nissan salesman and saying sexually suggestive things about the vehicle like "Why didn't you tell me it was so big?"
Nissan Canada executives said they will continue to push off-beat campaigns such as their "Larger than Life Road Trip" event that recently ended. The campaign pitted 10 young contestants against each other in various "adventure-reality" challenges across the country and allowed Internet users to track their progress.
Nissan says it got 255,000 hits to its Web site through the contest's one-month run. The winner won a Versa hatchback, which is showing strong sales since its debut in Canada.
nvanpraet@nationalpost.com
© National Post 2006
11-02-2006, 10:27 AM
#290
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my favorite nissan commercial would have to be the commercial during superbowl in 1997...the one with the danger-zone song playing in the background and teh birds trying to "bomb" the altima or sentra or whatever it was.
11-02-2006, 01:17 PM
#291
Senior Moderator
Originally Posted by mrdeeno
my favorite nissan commercial would have to be the commercial during superbowl in 1997...the one with the danger-zone song playing in the background and teh birds trying to "bomb" the altima or sentra or whatever it was.
Maxima.
11-02-2006, 02:56 PM
#293
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11-02-2006, 03:03 PM
#294
Senior Moderator
^^^ #6 all-time superbowl commercial. (ESPN readers)
11-02-2006, 05:51 PM
#295
Those Sentra commercials with that Mark guy living inside his car are pretty funny. I personally would never buy one though. Now, the new Altima.... 
11-03-2006, 06:28 AM
#297
Team Owner
Originally Posted by I Go To Costco
Those Sentra commercials with that Mark guy living inside his car are pretty funny.
11-03-2006, 05:05 PM
#298
Found this in Ramblings (by CLPLatano), **NWS** (but relevant to thread topic)
http://www.youtube.com/watch?v=lec1AwJeAow
I'm not sure the source of it. probably never made it past the big wigs who approve of these things, and must've leaked out. If it's a real commercial that aired, I'd say Nissan is indeed getting risky.
http://www.youtube.com/watch?v=lec1AwJeAow
I'm not sure the source of it. probably never made it past the big wigs who approve of these things, and must've leaked out. If it's a real commercial that aired, I'd say Nissan is indeed getting risky.
11-05-2006, 10:25 PM
#299
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Pigeon Commercial > *
I frequently cite it as an example of GOOD advertising and hardly anyone I speak to has seen it
I frequently cite it as an example of GOOD advertising and hardly anyone I speak to has seen it
11-05-2006, 10:30 PM
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12-16-2006, 05:42 PM
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Nissan Business Triangle
I posted a Hyundai business slide a while ago outlining future models, well this looks like it could be a Nissan slide for future sportscars, but I can't be sure its as accurate cause I can't read it.
Posted 12/12/06 on the gtrproto website
Looks like the VQ is just getting started according to this and if right it looks like the top is listed as GT500 which could mean a number of things for the new GTR. Unfortunately I can't translate words embedded in pictures.
Posted 12/12/06 on the gtrproto website
Looks like the VQ is just getting started according to this and if right it looks like the top is listed as GT500 which could mean a number of things for the new GTR. Unfortunately I can't translate words embedded in pictures.
04-25-2007, 10:35 AM
#304
Pro
Nissan feels heat, compared to Toyota and Honda
Business week:
As Nissan Slows, Ghosn Feels the Heat
Some ugly 2006 earnings news has critics wondering if Nissan-Renault superboss Carlos Ghosn has stretched himself too thin
by Ian Rowley
Few chief executives in Japan can charm an audience like Nissan (NSANY) chief Carlos Ghosn. Whether delivering barnstorming speeches or fielding questions from the floor, it's rare—almost unheard of in Japan—to see a corporate leader so at ease in the limelight. Yet even Ghosn could be forgiven for not looking forward to the announcement of the Japanese automaker's annual results on Apr. 26.
After all, following six consecutive years of record profit, Ghosn will be announcing that Nissan's profits fell in the 12 months through March. If earlier projections prove accurate, Ghosn is expected to announce 11% declines in both operating and net profits to $6.5 billion and $3.9 billion, respectively.
Of course, the disappointing results have been expected. Nissan shocked the markets with a rare earnings downgrade at its last quarterly earnings on Feb. 2, wiping $4.7 billion off its stock price (see BusinessWeek.com, 2/5/07, "Nissan's Stock Gets Blindsided"). Yet news on Apr. 24 that Nissan will offer voluntary retirement to some Japan-based workers and the release of Nissan's unit sales figures for the financial year will provide Ghosn's critics with further ammunition.
Offering Early Retirement
In particular, Nissan's bad year will once again raise questions as to whether the charismatic executive can successfully combine dual roles at Nissan-Renault, where he has also been chief executive officer since April, 2005 (see BusinessWeek.com, 4/27/05, "Ghosn On His Double Duty").
While not on the same scale as the February earnings downgrade, the voluntary retirement packages in Japan mark Nissan's first domestic job cuts in eight years. Under the terms of the deal, Nissan will offer redundancy to non-management level employees over the age of 45 with a minimum of five years service with compensation based on years of service.
Reports in the Nihon Keizai, a Japanese business daily, suggest that around 12,000 employees will be eligible, although Nissan says that it expects about 1,500 employees to accept the offer. "The voluntary retirement package is primarily designed to balance staffing levels with assembly requirements, taking into account production mix and productivity gains," Nissan noted in a statement. The markets appeared to cautiously welcome the move. At close of Tokyo trading on Tuesday Nissan's stock rose 0.7% to $10.36 while the market as whole fell slightly.
One of the Worst Hit
The offer of early retirement in Japan reflects the tough domestic market. Sales numbers for the financial year, released today, show just how tough. Nissan's financial year sales in Japan, excluding 660cc minicars, slumped 17% in 2006 to 596,000 units, while its market share fell to 16.6% from 18.4% a year earlier. In March, sales dropped 15.6% year-on-year to 87,385 units.
While Nissan isn't the only one struggling—Japan auto sales touched a 20-year low last year—it is among the worst hit. One problem is that the only segments of the market growing are minicars and the luxury sectors—where Nissan isn't a strong competitor.
"I don't think the recent announcement of voluntary redundancies to employees is an answer," says Yasuhiro Matsumoto, an analyst at Shinsei Securities in Tokyo. "The market may want to hear something about more innovative, attractive new models to boost sales. We want Nissan to mean 'innovation'."
Trouble In North America/leadin> Just as worrying, the important North American market—which accounts for about 60% of Nissan's operating profits—also shed sales in fiscal 2006. In all, sales dipped 3.7% to 1.035 million units due to weak truck sales and a lack of new models during the first half. Nissan also offered an early retirement package at its auto and engine factories in Tennessee.
Added to weak sales at home, that means Nissan now is now unlikely to meet a commitment to sell 4.2 million units per year globally by March, 2009. "I don't realistically think there's a lot they can do in the near term," says Andrew Phillips, an analyst at Nikko Citigroup in Tokyo. "They need to come up with more products that are better suited to the market and smooth out their product cycle. That's not an easy thing to do quickly."
By contrast, Japanese rivals go from strength to strength. Toyota (TM) today announced first quarter global sales of 2.35 million, a rise of 9.2%—enough to take them past GM (GM) for the first time. GM's sales rose 3% to 2.26 million during the quarter. Honda (HMC) today announced record production for the tenth straight financial year. For the year ending March, 2007, Honda produced 3.7 million units, a rise of 7.5% on a year earlier. Honda posts its earnings tomorrow.
New Models Eagerly Anticipated
For all the doom and gloom, Ghosn will be able to find some positives when he delivers Nissan's results. While truck sales remain weak in the U.S., new models are selling well. Cars like the fully remodeled Altima sedan—Nissan's best selling U.S. model—Versa subcompact, and Infiniti G35, all released in the last nine months, helped U.S. sales grow 7.9% in March.
What's more, yet-to-be-introduced models such as the Rogue compact crossover sport-utility vehicle are eagerly anticipated. One of Nissan's problems in the U.S. is that it borrowed from the Big Three's copybook and focused on gas guzzlers just as gas prices rocketed.
This meant that at a time when compact crossovers are all the rage, weak sales of Nissan's 5.6 liter full-size SUVs and pickups have been weighing down profits. By contrast, smaller, compact SUVs have been selling well for rivals. "I'm sure they hate being compared to Toyota and Honda all the time, but products like the RAV4 and CR-V sell like hotcakes," adds Nikko Citigroup's Phillips. The Rogue could belatedly provide a worthy competitor.
A Revamp of Sales Operations
Ghosn can also point to series of initiatives since the shocking earnings downgrade in February. In addition to voluntary retirements in Japan and the U.S., on Mar. 16 Nissan announced a management shakeup which included stripping himself of responsibility for North America (see BusinessWeek.com, 3/26/07, "Ghosn Juggles Nissan's Line-Up"). That should give him more time to focus on running Nissan and Renault.
Then, on Mar. 27, Nissan announced a revamp of its Japanese sales operations, which includes shedding excess staff and relocating some branches. "The company said that they would announce a series of profit improvement plans," UBS analyst Tatsuo Yoshida wrote to clients at the time. "This network improvement plan is one of them."
Nissan is also trying to bolster its green credentials. While Toyota and Honda nabbed praise for their leadership, Ghosn has appeared agnostic on hybrids. Indeed, Nissan's first hybrid, a gas-electric version of the Altima, relies on Toyota technology.
Clean Diesels for the U.S.
In recent months, though, Nissan has been taking steps to improve its environmental standing. On Apr. 13, Nissan and electronics maker NEC (NIPNF) revealed that they had signed an agreement to establish a joint-venture company called Automotive Energy Supply Corporation which will focus on the development and marketing of advanced lithium-ion batteries. That's timely given that Li-ions are expected to be vital for the success of next-generation hybrid systems and electric vehicles.
And on Apr. 18, Nissan committed to producing a clean diesel for the U.S. market, using engines developed with Renault, by 2010. "You can expect to see more diesel engines in our product lineup in Europe, Japan, North America, and China by fiscal year 2010," Ghosn said in a speech at the Council on Foreign Relations, adding that the engines would clear stringent U.S. Environmental Protection Agency Tier II Bin 5 emissions requirements.
In perhaps his strongest defense of all, Ghosn can also point to Nissan's profit margins which still stack up well against most automakers. If Nissan were based in Europe or the U.S., and were not compared directly with Toyota and Honda, few would be griping. Yet unless earnings resume their growth path in the near future, that might not be enough to quiet critics.
Rowley is a correspondent in BusinessWeek's Tokyo bureau.
As Nissan Slows, Ghosn Feels the Heat
Some ugly 2006 earnings news has critics wondering if Nissan-Renault superboss Carlos Ghosn has stretched himself too thin
by Ian Rowley
Few chief executives in Japan can charm an audience like Nissan (NSANY) chief Carlos Ghosn. Whether delivering barnstorming speeches or fielding questions from the floor, it's rare—almost unheard of in Japan—to see a corporate leader so at ease in the limelight. Yet even Ghosn could be forgiven for not looking forward to the announcement of the Japanese automaker's annual results on Apr. 26.
After all, following six consecutive years of record profit, Ghosn will be announcing that Nissan's profits fell in the 12 months through March. If earlier projections prove accurate, Ghosn is expected to announce 11% declines in both operating and net profits to $6.5 billion and $3.9 billion, respectively.
Of course, the disappointing results have been expected. Nissan shocked the markets with a rare earnings downgrade at its last quarterly earnings on Feb. 2, wiping $4.7 billion off its stock price (see BusinessWeek.com, 2/5/07, "Nissan's Stock Gets Blindsided"). Yet news on Apr. 24 that Nissan will offer voluntary retirement to some Japan-based workers and the release of Nissan's unit sales figures for the financial year will provide Ghosn's critics with further ammunition.
Offering Early Retirement
In particular, Nissan's bad year will once again raise questions as to whether the charismatic executive can successfully combine dual roles at Nissan-Renault, where he has also been chief executive officer since April, 2005 (see BusinessWeek.com, 4/27/05, "Ghosn On His Double Duty").
While not on the same scale as the February earnings downgrade, the voluntary retirement packages in Japan mark Nissan's first domestic job cuts in eight years. Under the terms of the deal, Nissan will offer redundancy to non-management level employees over the age of 45 with a minimum of five years service with compensation based on years of service.
Reports in the Nihon Keizai, a Japanese business daily, suggest that around 12,000 employees will be eligible, although Nissan says that it expects about 1,500 employees to accept the offer. "The voluntary retirement package is primarily designed to balance staffing levels with assembly requirements, taking into account production mix and productivity gains," Nissan noted in a statement. The markets appeared to cautiously welcome the move. At close of Tokyo trading on Tuesday Nissan's stock rose 0.7% to $10.36 while the market as whole fell slightly.
One of the Worst Hit
The offer of early retirement in Japan reflects the tough domestic market. Sales numbers for the financial year, released today, show just how tough. Nissan's financial year sales in Japan, excluding 660cc minicars, slumped 17% in 2006 to 596,000 units, while its market share fell to 16.6% from 18.4% a year earlier. In March, sales dropped 15.6% year-on-year to 87,385 units.
While Nissan isn't the only one struggling—Japan auto sales touched a 20-year low last year—it is among the worst hit. One problem is that the only segments of the market growing are minicars and the luxury sectors—where Nissan isn't a strong competitor.
"I don't think the recent announcement of voluntary redundancies to employees is an answer," says Yasuhiro Matsumoto, an analyst at Shinsei Securities in Tokyo. "The market may want to hear something about more innovative, attractive new models to boost sales. We want Nissan to mean 'innovation'."
Trouble In North America/leadin> Just as worrying, the important North American market—which accounts for about 60% of Nissan's operating profits—also shed sales in fiscal 2006. In all, sales dipped 3.7% to 1.035 million units due to weak truck sales and a lack of new models during the first half. Nissan also offered an early retirement package at its auto and engine factories in Tennessee.
Added to weak sales at home, that means Nissan now is now unlikely to meet a commitment to sell 4.2 million units per year globally by March, 2009. "I don't realistically think there's a lot they can do in the near term," says Andrew Phillips, an analyst at Nikko Citigroup in Tokyo. "They need to come up with more products that are better suited to the market and smooth out their product cycle. That's not an easy thing to do quickly."
By contrast, Japanese rivals go from strength to strength. Toyota (TM) today announced first quarter global sales of 2.35 million, a rise of 9.2%—enough to take them past GM (GM) for the first time. GM's sales rose 3% to 2.26 million during the quarter. Honda (HMC) today announced record production for the tenth straight financial year. For the year ending March, 2007, Honda produced 3.7 million units, a rise of 7.5% on a year earlier. Honda posts its earnings tomorrow.
New Models Eagerly Anticipated
For all the doom and gloom, Ghosn will be able to find some positives when he delivers Nissan's results. While truck sales remain weak in the U.S., new models are selling well. Cars like the fully remodeled Altima sedan—Nissan's best selling U.S. model—Versa subcompact, and Infiniti G35, all released in the last nine months, helped U.S. sales grow 7.9% in March.
What's more, yet-to-be-introduced models such as the Rogue compact crossover sport-utility vehicle are eagerly anticipated. One of Nissan's problems in the U.S. is that it borrowed from the Big Three's copybook and focused on gas guzzlers just as gas prices rocketed.
This meant that at a time when compact crossovers are all the rage, weak sales of Nissan's 5.6 liter full-size SUVs and pickups have been weighing down profits. By contrast, smaller, compact SUVs have been selling well for rivals. "I'm sure they hate being compared to Toyota and Honda all the time, but products like the RAV4 and CR-V sell like hotcakes," adds Nikko Citigroup's Phillips. The Rogue could belatedly provide a worthy competitor.
A Revamp of Sales Operations
Ghosn can also point to series of initiatives since the shocking earnings downgrade in February. In addition to voluntary retirements in Japan and the U.S., on Mar. 16 Nissan announced a management shakeup which included stripping himself of responsibility for North America (see BusinessWeek.com, 3/26/07, "Ghosn Juggles Nissan's Line-Up"). That should give him more time to focus on running Nissan and Renault.
Then, on Mar. 27, Nissan announced a revamp of its Japanese sales operations, which includes shedding excess staff and relocating some branches. "The company said that they would announce a series of profit improvement plans," UBS analyst Tatsuo Yoshida wrote to clients at the time. "This network improvement plan is one of them."
Nissan is also trying to bolster its green credentials. While Toyota and Honda nabbed praise for their leadership, Ghosn has appeared agnostic on hybrids. Indeed, Nissan's first hybrid, a gas-electric version of the Altima, relies on Toyota technology.
Clean Diesels for the U.S.
In recent months, though, Nissan has been taking steps to improve its environmental standing. On Apr. 13, Nissan and electronics maker NEC (NIPNF) revealed that they had signed an agreement to establish a joint-venture company called Automotive Energy Supply Corporation which will focus on the development and marketing of advanced lithium-ion batteries. That's timely given that Li-ions are expected to be vital for the success of next-generation hybrid systems and electric vehicles.
And on Apr. 18, Nissan committed to producing a clean diesel for the U.S. market, using engines developed with Renault, by 2010. "You can expect to see more diesel engines in our product lineup in Europe, Japan, North America, and China by fiscal year 2010," Ghosn said in a speech at the Council on Foreign Relations, adding that the engines would clear stringent U.S. Environmental Protection Agency Tier II Bin 5 emissions requirements.
In perhaps his strongest defense of all, Ghosn can also point to Nissan's profit margins which still stack up well against most automakers. If Nissan were based in Europe or the U.S., and were not compared directly with Toyota and Honda, few would be griping. Yet unless earnings resume their growth path in the near future, that might not be enough to quiet critics.
Rowley is a correspondent in BusinessWeek's Tokyo bureau.
07-09-2008, 11:06 AM
#305
Nissan Production, Sales, And Export Results For May 2008
TOKYO (June 26, 2008) – Nissan Motor Co., Ltd. today announced production, sales and export figures for May 2008.
Production Nissan’s global production in May increased 5.1% year-on-year to 275,918 units.
Export models from Japan such as Rogue, Murano, X-Trail and March boosted domestic production to 100,299 units, exceeding the previous year by 40.3%.
Production outside of Japan dropped 8.1% year-on-year to 175,619 units.
In the U.S., production fell 26.1% to 43,317 units compared to the year prior.
In Mexico, production decreased 4.7% year-on-year to 41,784 units.
Production in the U.K. rose 9.2% year-on-year to 32,730 units.
Production in Spain decreased 18.5% to 17,415 units compared to the same month in the prior year.
Production in the General Overseas Markets* (GOM) grew 8.4% year-on-year to 40,373 units due to increased demand for the Qashqai in China, and the Livina series in China, Indonesia, Malaysia, Taiwan and South Africa. Increased production of the Frontier Navara in Thailand also contributed to the improved performance.
Sales In Japan, Nissan’s vehicle registrations in May fell 11.4% year-on-year to 33,677 units despite the strong sales from the X-Trail, refreshed Tiida, March, and March Collet variant introduced in May. Nissan’s share of the domestic market registrations in May was down 0.9 percentage points year-on-year to 15.2%.
Domestic sales of mini-vehicles were up 0.4% from the previous year to 9,798 units.
Including mini-vehicles, Nissan sold 43,475 units in Japan, down 9.0% year-on-year. The company’s share decreased 0.5 percentage points to 12.1%.
Global sales increased 11.0% to 329,637 units compared to the previous year.
Sales of new vehicles in the U.S. rose 8.4%** year-on-year to 100,874 units, marking an all-time record for the month of May. The Altima and Rogue achieved sales records in May for a single month.
In Europe, sales grew 7.8% year-on-year to 53,973 units due to the strong performance of the Qashqai, X-Trail and Tiida.
Sales in the GOM region were up 27.2% from the previous year to 104,131 units.
Exports from Japan *** Nissan’s exports in May increased 93.4% to 55,880 units compared to the previous year.
Exports to North America rose 238.5% year-on-year to 23,982 units mainly due to strong performance from the Rogue and Murano.
Exports to Europe grew 74.8% to 8,415 units compared to the prior year.
Exports to other regions grew 38.2% to 23,483 units compared to the previous year.
* The GOM region combines all Asian, Latin American, Caribbean, African, Oceania and Middle East countries.
**U.S. sales: +4.4% after equivalent adjustment for actual days of selling in May.
*** Export regions are based on JAMA geographic division.
Production Nissan’s global production in May increased 5.1% year-on-year to 275,918 units.
Export models from Japan such as Rogue, Murano, X-Trail and March boosted domestic production to 100,299 units, exceeding the previous year by 40.3%.
Production outside of Japan dropped 8.1% year-on-year to 175,619 units.
In the U.S., production fell 26.1% to 43,317 units compared to the year prior.
In Mexico, production decreased 4.7% year-on-year to 41,784 units.
Production in the U.K. rose 9.2% year-on-year to 32,730 units.
Production in Spain decreased 18.5% to 17,415 units compared to the same month in the prior year.
Production in the General Overseas Markets* (GOM) grew 8.4% year-on-year to 40,373 units due to increased demand for the Qashqai in China, and the Livina series in China, Indonesia, Malaysia, Taiwan and South Africa. Increased production of the Frontier Navara in Thailand also contributed to the improved performance.
Sales In Japan, Nissan’s vehicle registrations in May fell 11.4% year-on-year to 33,677 units despite the strong sales from the X-Trail, refreshed Tiida, March, and March Collet variant introduced in May. Nissan’s share of the domestic market registrations in May was down 0.9 percentage points year-on-year to 15.2%.
Domestic sales of mini-vehicles were up 0.4% from the previous year to 9,798 units.
Including mini-vehicles, Nissan sold 43,475 units in Japan, down 9.0% year-on-year. The company’s share decreased 0.5 percentage points to 12.1%.
Global sales increased 11.0% to 329,637 units compared to the previous year.
Sales of new vehicles in the U.S. rose 8.4%** year-on-year to 100,874 units, marking an all-time record for the month of May. The Altima and Rogue achieved sales records in May for a single month.
In Europe, sales grew 7.8% year-on-year to 53,973 units due to the strong performance of the Qashqai, X-Trail and Tiida.
Sales in the GOM region were up 27.2% from the previous year to 104,131 units.
Exports from Japan *** Nissan’s exports in May increased 93.4% to 55,880 units compared to the previous year.
Exports to North America rose 238.5% year-on-year to 23,982 units mainly due to strong performance from the Rogue and Murano.
Exports to Europe grew 74.8% to 8,415 units compared to the prior year.
Exports to other regions grew 38.2% to 23,483 units compared to the previous year.
* The GOM region combines all Asian, Latin American, Caribbean, African, Oceania and Middle East countries.
**U.S. sales: +4.4% after equivalent adjustment for actual days of selling in May.
*** Export regions are based on JAMA geographic division.
12-12-2008, 08:08 AM
#306
Safety Car
Nissan Phasing Out Full Size SUVs
Report: Nissan phasing out production of Armada and Infiniti QX56 SUVs
Nissan is reportedly phasing out production of a number of its large vehicles at its Mississippi plant, including the Nissan Quest people mover, Nissan Armada SUV and the Armada-based Infiniti QX56. Production in the Mississippi plant will instead focus on a new large vehicle inspired by the NV2500 Concept unveiled just last month.
While Nissan is yet to confirm the demise of its fullsize SUVs, vehicles like the Armada and the Infiniti QX56 have all performed poorly in terms of sales this year, making it more and more likely that they will be dropped soon – plus the fact that strict CAFE regulations are just around the corner. Currently, the Nissan Armada is selling around half the units it did compared to last year, while the Infiniti QX56's sales are down by over a third for the year to date, reports MotorTrend.
Nevertheless, the news could just mean that Nissan will be shifting production of these models to other plants, and that the NV2500 will be joining this lineup. When Nissan unveiled the NV2500 last month, it was described as a preview of the company's entry into the North American Commercial Vehicle (CV) market.
Nissan's entrance into the commercial vehicle market may see the Japanese company sacrifice production of its poorly performing consumer SUVs and minivans, however there is still no official word from Nissan regarding this yet.
Nissan is reportedly phasing out production of a number of its large vehicles at its Mississippi plant, including the Nissan Quest people mover, Nissan Armada SUV and the Armada-based Infiniti QX56. Production in the Mississippi plant will instead focus on a new large vehicle inspired by the NV2500 Concept unveiled just last month.
While Nissan is yet to confirm the demise of its fullsize SUVs, vehicles like the Armada and the Infiniti QX56 have all performed poorly in terms of sales this year, making it more and more likely that they will be dropped soon – plus the fact that strict CAFE regulations are just around the corner. Currently, the Nissan Armada is selling around half the units it did compared to last year, while the Infiniti QX56's sales are down by over a third for the year to date, reports MotorTrend.
Nevertheless, the news could just mean that Nissan will be shifting production of these models to other plants, and that the NV2500 will be joining this lineup. When Nissan unveiled the NV2500 last month, it was described as a preview of the company's entry into the North American Commercial Vehicle (CV) market.
Nissan's entrance into the commercial vehicle market may see the Japanese company sacrifice production of its poorly performing consumer SUVs and minivans, however there is still no official word from Nissan regarding this yet.
12-12-2008, 08:46 AM
#308
GEEZER
good. others should do the same.
12-12-2008, 10:17 AM
#310
The sizzle in the Steak
Good because they were ugly too.
12-12-2008, 10:57 AM
#311
The Third Ball
Join Date: Sep 2002
Location: Los Angeles, Ca
Age: 45
Posts: 49,122
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2,571 Posts
12-12-2008, 12:08 PM
#314
The sizzle in the Steak
12-12-2008, 03:49 PM
#316
2G TLX-S
