Nissan slashes capacity by a fifth after first loss in 11 years

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Nissan Motor Co said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen ($2.8 billion) as it looks to become a smaller, more cost-efficient automaker following a slide in sales.

The logo of Nissan is seen on a car through a fence at Nissan factory at Zona Franca during the coronavirus disease outbreak in Barcelona, Spain, May 26, 2020. REUTERS/ Albert Gea

TOKYO - Nissan Motor Co said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen as it looks to become a smaller, more cost-efficient automaker following a slide in sales. The Japanese company said its new four-year plan aims to ensure steady growth as opposed to the excessive expansion of the past. The announcement came after Nissan posted an operating loss of 40.5 billion yen for the year ended March, its first loss in 11 years.

Source: Car News Wire (carnewswire.net)

 

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