Nissan Motor Co., Ltd. (NSANF)
- Reuters
Nissan cuts output at top Japanese plant, sources say
Nissan cut planned production by a third at its top Japanese plant this month, a move that will also see it slash output of a flagship crossover model, two people said, as it struggles with weak U.S. demand for its ageing line-up. The Japanese automaker on Thursday reported an almost complete wipe-out in April to June profit and cut its full-year outlook after it was forced to offer deep discounts in the U.S., highlighting the deepening risk it faces in its largest market. Unlike rivals Toyota and Honda, Nissan doesn't offer hybrid models in the U.S. and therefore hasn't benefitted from recent upswing in demand from U.S. consumers for hybrids as enthusiasm around EVs has cooled.
- Zacks
New Strong Sell Stocks for July 26th
ARCO, HRI and NSANY have been added to the Zacks Rank #5 (Strong Sell) List on July 26, 2024.
- Reuters
US market proves a headache for global carmakers
LONDON/DETROIT (Reuters) -Problems in the highly competitive U.S. car market including weak prices, high inventories and difficult logistics dented profits and hit shares of automakers including Ford Motor, Stellantis and Nissan on Thursday, as they scramble to find a fix. Global automakers are facing a weakening outlook for sales across major markets such as the U.S., while also juggling an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. U.S. automaker Ford plunged 16% after its second-quarter profit missed analyst expectations, weighed down by high warranty costs and a cash-burning electric vehicle business.
