Nissan Reports Loss, Names New CEO Amid Restructuring

Nissan reported a net loss of 115.8 billion yen ($782 million) for the April-June quarter, marking its fourth consecutive quarterly loss amid declining sales, adverse exchange rates, and U.S. tariffs. Quarterly sales fell nearly 10% to 2.7 trillion yen ($18 billion), and the company did not provide a full-year profit forecast. New CEO Ivan Espinosa, who succeeded Makoto Uchida, is accelerating a recovery plan involving workforce reductions, product and market strategy realignment, and cost-cutting measures. Nissan now plans to close its flagship Oppama plant by 2027. Some models, such as the N7 in China and Magnite in Mexico, have performed strongly, and Nissan is maintaining technology partnerships despite ending joint holding talks with Honda. Espinosa expressed confidence in a return to profitability later this year as early steps of the revival plan take effect.