Nissan expects operating profit to come in at 685.0 billion yen ($6.00 billion) in the year to March, lower than an average estimate of 778.4 billion yen from 21 analysts polled by Thomson Reuters I/B/E/S, and down from a 742.2 billion yen profit posted in the year just ended.
Demand for cars, sport utility vehicles and pickup trucks in February dipped to an annualised pace of 17.6 million vehicles, compared with a robust 17.7 million a year earlier, according to Autodata Corp.
Japan's second largest automaker Nissan Motor Co today said its long-serving leader Carlos Ghosn will hand over the role of CEO to Hiroto Saikawa, a company veteran.
The announcement ends years of speculation over when Ghosn would relinquish the top job at Nissan to focus on French alliance partner Renault SA , whose investors have grumbled that he was stretched too thin leading two major automakers.
Nissan Motor Co will make its first major foray into internet-connected cars by offering an option in some new vehicles that will use big data technology to notify drivers when vehicle maintenance is required.
Dealers sold 2.3 million cars, minivans and SUVs in the world's biggest auto market, according to the China Association of Automobile Manufacturers. Total vehicle sales including trucks and buses climbed 18.6 percent to 2.6 million units.
Japan's No. 2 automaker has agreed to make a 237 billion yen (USD2.29 billion) investment to acquire a 34 percent stake in Mitsubishi Motors, making it the single largest shareholder in its smaller peer.
Ghosn, who also serves as CEO of Renault SA, Nissan's alliance partner, has asked Mitsubishi Motors Chairman and President Osamu Masuko to remain president when Nissan takes a controlling stake in an automaker recovering from a mileage-cheating scandal, the Nikkei reported.
The company, which is aiming at 5 per cent market share in India by 2020 will launch the new products under its Nissan and Datsun brands.
In May 2008, Ashok Leyland and Nissan had formed three JVs -- Ashok Leyland Nissan Vehicles Ltd (ALNVL) for vehicles manufacturing; Nissan Ashok Leyland Power Train Ltd (NALPT) for making power trains; and Nissan Ashok Leyland Technologies Ltd (NALT), which is a technology joint venture.
Two people with knowledge of the matter said that the Japanese automaker wants to sell its 51 percent stake in Automotive Energy Supply Corporation, which makes lithium-ion batteries for electric vehicles. The company is jointly owned by NEC Corp.
Growth in total auto exports from India slowed to about 1.9 percent in the year to end-March compared with 15 percent growth in the previous 12-month period, due to falling sales to Africa.
"The biggest challenge is to support Mitsubishi changing itself and growing and being profitable and restoring its reputation," Ghosn told a news conference at Nissan's headquarters in Yokohama, south of Tokyo.
About 30,000 rescue workers were scouring the rubble for survivors and handing out food to those unable to return to their homes, after the quakes struck Kyushu island from Thursday. The biggest hit near Kumamoto city early Saturday.
Japanese automakers, map-making companies, and the government will get together to generate standardised intelligent maps, with plans to incorporate driving data gathered by the automakers, the paper said on Sunday.
The automaker has established Toyota Connected at its US headquarters in Plano, Texas, to consolidate its existing connectivity services and serve as the company's "data science" hub. Microsoft has a 5 per cent stake in the venture.
Ola expects to sign similar partnerships with other carmakers to achieve its target of adding 100,000 vehicles by end-2016 to its car leasing programme, the company said in an emailed statement.
Toyota Motor Corp and Nissan Motor Co have also set 2020, the year of the Tokyo Olympics, as the target date to bring self-driving cars to market.
Automakers like General Motors, Nissan Motor Co and Renault SA have over the past weeks announced hundreds of job losses. Some have already reduced output, and industry analysts expect more to come.
Honda has so far borne the brunt of the recalls linked to the Takata air bag inflators, which can erupt with too much force, spraying shrapnel inside the car.
The 77-year-old son of the late founder presided over Hyundai's role in a USD 10 billion property purchase last year, triggering a drop in the automaker's share price which an increased dividend and stock buyback failed to revive.
Nissan showcased a concept compact car, Datsun Redi-GO, at the auto show in Delhi in 2014 and the new car is likely to be based on that, say analysts, who also expect the price to be significantly lower at below USD 4,000 for the no-frills, basic model.
Compared with the size of the economy, foreign direct investment inflows into Japan are the lowest among the 34 developed nations grouped in the Organization for Economic Co-operation and Development (OECD).
Four Japanese automakers including Toyota Motor Corp and Nissan Motor Co are recalling 3.4 million vehicles sold around the world because airbags supplied by Takata Corp are at risk of catching fire or injuring passengers.
Honda Motor Co Ltd has trimmed its annual net profit forecast by 1.3 percent to 370 billion yen on poorer than expected car sales in China and Europe, even as it sees strong sales in the United States, its biggest market.