G'day All - I was just reading a news item about Nissan and I was staggered at how much they've faltered.
This is now a car manufacturer in seriously deep trouble. They are shutting down factories permanently in two countries - Spain and Indonesia.
They are moving the Indonesian manufacturing to Thailand - but overall, they're reducing vehicle output by 20%.
They lost AUD$9.2B last FY (to March 2020). This was a year largely unaffected by the coronavirus. Things have only got a lot worse, since the virus hit.
Their vehicle production, globally, was down 62% in April 2020!! Their global sales were down 42% for the same month.
Perhaps some of their poor attitude to their customers is coming back to bite them?
A lot of Nissans problems can be shunted right into Carlos Ghosn's court. I reckon this bloke was poison to Nissan.
He went for a huge surge in sales targets, but put all his dealers, and many of his customers offside.
Nissans customer service became poorer and poorer, and it seems obvious now, this was because Ghosn wouldn't let the Nissan dealers make any money.
The very fact that Ghosn escaped from custody in Japan via the most devious means possible, indicates he has little by way of morals or ethics.
I think it's a good thing he's gone - but it's going to be a while before Nissan even looks like sailing on an even keel.
Nissans 3000 workers at the Spanish factory are currently rioting and burning tyres, after getting news of the Nissan factory shutdown.
Not the best company image Nissan would be wanting on the news.
There's certainly going to be a major shakeout in the company over the next year. Look towards a number of Nissan models disappearing (69 models brought down to 55), and possibly a lot more Nissan parts and components being manufactured in cheap-manufacturing countries.
Nissan to shut manufacturing down in Spain and IndonesiaCarlos Ghosns strategy sees Nissan dealers sell out in the U.S.New Nissan alliance plan is a mish-mashThe other shoe has dropped for Nissan
Cheers, Ron.