The logo of Nissan Motor is displayed the company's showroom in Tokyo, Japan. File photo: REUTERS/ISSEI KATO
Nissan’s bigger rival, Toyota, said on Wednesday that “unprecedented” hikes in raw material costs may slice a fifth off annual profit. Nissan said it expected raw material and logistics costs to rise about 1.5 times to ¥212bn in the financial year that started in April, with more than half due to steel and aluminium. It also projected an extra ¥45bn in logistics cost rises for the year.
The 20-year-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ousting of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources and work more closely together to make electric cars.
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