Join our community of SUBSCRIBERS and be part of the conversation.

To subscribe, simply enter your email address on our website or click the subscribe button below. Don't worry, we respect your privacy and won't spam your inbox. Your information is safe with us.

News

Company:

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Friday, April 4, 2025

Nissan’s Lack of Hybrids Is Killing the Company, Report Says

Share

As the COVID pandemic eased up, Nissan CEO Makoto Uchida went full-speed ahead on an all-electric future and stepped away from hybrids. That decision could end Uchida’s tenure as the head of Nissan, as it’s a major factor in the automaker’s current financial woes.

At least that’s the conclusion in a recent report from Reuters, which revealed some internal concerns over Uchida’s vision to leave hybrids behind. Citing unnamed sources familiar with Nissan’s plan, questions arose months ago from managers about the lack of hybrid models for the US market. The report alleges that Nissan leadership didn’t think the rising demand for hybrids would last.

“It’s an excuse, but up until [November] last year, we were not able to foresee the rapid rise in demand for hybrids,” said Uchida, according to Reuters.




The irony here is that Nissan is selling vehicles. Sales in North America are actually up 1.7 percent versus 2023, which was significantly higher compared to 2022, when supply chain problems were rampant. That said, Nissan’s luxury brand Infiniti is down 12.8 percent. As a result, Nissan Group’s overall sales are down 2.2 percent in this neck of the woods. That’s still not terrible, but as Reuters explains, sales are largely driven by incentives that take a swipe out of profits. China is also a major factor, where overall sales are down 13.1 percent.

That means Nissan is struggling on a global scale. Last month, the Japanese company announced its operating profit was down an astonishing 90 percent through the first half of the fiscal year. Net income was down 94 percent. That prompted CEO Makoto Uchida to announce a bevy of reforms and cost-cutting measures. But cuts can only go so far.

Nissan is planning an electrified blitz with 16 new hybrid powertrains coming by 2027. Of course, that depends on the company surviving long enough to make that happen.

Source link

Read more

Local News