Japanese automaker Nissan is on the brink of collapse with just 12 months remaining to alter course, reported the Daily Mail on Sunday.According to insiders, Nissan is struggling to stay competitive with rivals that have achieved greater success with hybrid vehicles, reported the Mail. Some argue the company charted a course for disaster years ago when it produced a number of ugly vehicles like the Juke and Cube — tarnishing its reputation. Current models are also uninspiring and "hideous," say critics at Grassroots Motorsports."All of them are basically vomit inducing," they said. "Who the hell approves these things?".Nissan, it is said, emasculated its legendary Pathfinder 4x4, transforming it into a glorified soccer mom car — almost indistinguishable from competitors in the same class. That said, other automakers are guilty of the same sin, marketing vehicles to poodle owners instead of adventurers, say critics..Rumblings at Nissan come as a strategic collaboration with competitors Mitsubishi and Renault, covering European, Japanese and U.S. markets, may be concluding, reported the Mail.As of 2022, Nissan had approximately 131,500 employees, a 5.35% decline from 2021. In the U.S., the company has launched a massive cost-cutting campaign after suffering major losses."Nissan said last month it would axe 9,000 jobs and 20% of its global manufacturing capacity, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S., its two biggest markets," wrote the Mail.CEO Makoto Uchida is said to be taking a 50% pay reduction. CFO Stephen Ma is stepping down, it is reported."But insiders fear the moves may not be enough as Nissan struggles to stay competitive with rivals who have pushed ahead more successfully with popular hybrid cars," wrote the Mail.Nissan may needing a cash bailout from the Japanese or U.S. governments over the next several months to remain in business, according to the Mail."The firm's worldwide sales slumped by 3.8% to 1.59 million vehicles in the first half of the current financial year, largely driven by a 14.3% fall in China," wrote the Mail."The Financial Times quoted a senior official at Nissan as saying: 'We have 12 or 14 months to survive. This is going to be tough. And in the end, we need Japan and the U.S. to be generating cash.'
Japanese automaker Nissan is on the brink of collapse with just 12 months remaining to alter course, reported the Daily Mail on Sunday.According to insiders, Nissan is struggling to stay competitive with rivals that have achieved greater success with hybrid vehicles, reported the Mail. Some argue the company charted a course for disaster years ago when it produced a number of ugly vehicles like the Juke and Cube — tarnishing its reputation. Current models are also uninspiring and "hideous," say critics at Grassroots Motorsports."All of them are basically vomit inducing," they said. "Who the hell approves these things?".Nissan, it is said, emasculated its legendary Pathfinder 4x4, transforming it into a glorified soccer mom car — almost indistinguishable from competitors in the same class. That said, other automakers are guilty of the same sin, marketing vehicles to poodle owners instead of adventurers, say critics..Rumblings at Nissan come as a strategic collaboration with competitors Mitsubishi and Renault, covering European, Japanese and U.S. markets, may be concluding, reported the Mail.As of 2022, Nissan had approximately 131,500 employees, a 5.35% decline from 2021. In the U.S., the company has launched a massive cost-cutting campaign after suffering major losses."Nissan said last month it would axe 9,000 jobs and 20% of its global manufacturing capacity, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S., its two biggest markets," wrote the Mail.CEO Makoto Uchida is said to be taking a 50% pay reduction. CFO Stephen Ma is stepping down, it is reported."But insiders fear the moves may not be enough as Nissan struggles to stay competitive with rivals who have pushed ahead more successfully with popular hybrid cars," wrote the Mail.Nissan may needing a cash bailout from the Japanese or U.S. governments over the next several months to remain in business, according to the Mail."The firm's worldwide sales slumped by 3.8% to 1.59 million vehicles in the first half of the current financial year, largely driven by a 14.3% fall in China," wrote the Mail."The Financial Times quoted a senior official at Nissan as saying: 'We have 12 or 14 months to survive. This is going to be tough. And in the end, we need Japan and the U.S. to be generating cash.'
