The automaker has scaled back global sales targets to between 2.97 million and 3 million units following a sharp 32% decline in Chinese sales over nine months. To stem further losses, assembly lines are being reconfigured to curb models like Sylphy saloons in favor of the newer electric and hybrid N series. Meanwhile, the firm relies on steadier petrol demand across North America and Japan while lobbying against stringent green deadlines in the UK.
Key points
Legacy car manufacturers are struggling to protect combustion-engine profit margins while…: Legacy car manufacturers are struggling to protect combustion-engine profit margins while confronting heavily subsidized domestic electric vehicle producers in China.
Nissan is shifting resources in China toward its N series electrified lineup while cuttin…: Nissan is shifting resources in China toward its N series electrified lineup while cutting back output of petrol models such as the Sylphy.
The company is actively pursuing conflicting regional strategies by ramping up Chinese ba…: The company is actively pursuing conflicting regional strategies by ramping up Chinese battery production while lobbying to weaken zero-emission transition mandates in Europe.
Sources checked by our analysis pipeline: 1
The Japanese carmaker Nissan has said it has been caught out by accelerating sales of electric and hybrid cars in China amid a brutal price war in the world’s biggest automotive market.
The manufacturer slashed its sales forecasts for China and said it would cut back on petrol car manufacturing while increasing production of battery electric vehicles and plug-in hybrids, which combine a smaller battery with a petrol engine.
Nissan said it expected to sell between 2.97m and 3m cars this year, down from a previous forecast of 3.15m, mainly because of struggles in China.
“China remains our biggest challenge,” said Ivan Espinosa, Nissan’s chief executive. “Demand is weaker, competition is intensifying, and the shift to new energy vehicles is happening faster than expected. The market is being very, very harsh.”
The company reported increased sales in its home market as well as in North America – regions in which the shift to electric cars has been much slower because of policy decisions, including Donald Trump’s tearing up of incentives for battery car makers.
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