Nissan restructuring may assume cut of 1 million cars to annual sales target: sources [Reuters]
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Source: Reuters
Nissan restructuring may assume cut of 1 million cars to annual sales target: sources TOKYO/BEIJING (Reuters) - Nissan Motor Co Ltd’s ( 7201.T ) management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said. Even before the spread of the coronavirus, Nissan’s sales and profits had been slumping and it was burning through cash, forcing it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on urgency and pressure to renewed efforts to downsize. No new sales target has been finalised and it remains unclear whether one will be formally disclosed. But Nissan’s plans for restructuring through to March 2023 should be based on the assumption that it would only be able to return to annual sales of 5 million cars by then, two sources said, adding this would entail a large r
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