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Nissan’s Financials are a Mess

(Credit: Nissan)

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Nissan’s Financials are a Mess

Everyone has known things aren’t pretty at Nissan. The automaker faces falling sales worldwide, plus the whole Carlos Ghosn scandal. The former Renault-Nissan Alliance head had himself a merry time drawing whatever salary and benefits he pleased, to the tune of billions of dollars, which have to be shown on the automaker’s books now that they’re known.

Things are bad, like really bad. Nissan operating profit plummeted 45 percent last year. That and other bad news from Nissan is encouraging forces inside Renault to push ahead with stronger terms for the Alliance, or a full merger between the two automakers.

Let’s just say Nissan is like the girl who feels trapped with a loser boyfriend who wants to get married. Nissan seems to be looking for any option to get out of the Alliance, or at least to get the upper hand on Renault, which for the most part calls the shots despite being smaller.

Nissan CEO Hiroto Saikawa promises the automaker will return to its better days of high profits within just two to three years. That’s aggressive and optimistic, considering just how deep of a hole the company is in.

What this means as far as cars is that you shouldn’t expect to see Nissan taking a lot of chances anytime soon. Fewer fun cars is probably the sad reality, along with more soft crossovers, since that’s what consumers like.

Source: Reuters

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