Nissan cuts profit forecast after 70% quarterly plunge in profit

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Following the removal of former chairman Ghosn almost a year ago, Nissan has been battered by falling profit, uncertainty over its future leadership and tensions with top shareholder Renault, whose shares fell 2% to their lowest since April 2013 after Nissan's downbeat guidance.Operating profit at Japan's second-biggest car maker by sales came in at 30 billion yen in July-September versus 101.2 billion yen a year earlier.from nine analyst estimates compiled by Refinitiv.

"We are revisiting all our assumptions, and as you can see that is why we revised down our forecast for sales volume for the full year," Ma said., which would be its worst full-year performance in 11 years.

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