Nissan Motor Corp. expects to post a loss of 700 billion yen ($4.9 billion) to 750 billion yen ($5.3 billion) for the fiscal year through March due to declining sales and devalued assets, citing higher impairment costs and reduced vehicle production. The automaker, which produces mid-size sedans like the Altima and luxury models like Infiniti, has seen annual sales decline to 3.35 million vehicles from 3.4 million projected in February. Despite being a pioneer in electric vehicles with the Leaf, Nissan has fallen behind competitors like Tesla and Byd in EVs and hybrids. However, the company maintains a solid cash position with net cash expected to reach 1.5 trillion yen ($10.5 billion) by the end of fiscal year 2024.
Source: https://finance.yahoo.com/news/nissan-revises-down-earnings-forecast-133754582.html