Nissan to stop producing cars in Indonesia as part of reorganization plan [Reuters]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
Nissan to stop producing cars in Indonesia as part of reorganization plan TOKYO (Reuters) - Nissan Motor Co ( 7201.T ) said on Wednesday it would stop producing vehicles in Indonesia, consolidating its global production in the face of falling sales which have pummeled its profitability. The decision to stop production at the West Java plant, which made its struggling Datsun compact cars, was part of a plan for “rightsizing, production optimization and reorganizing of business operations,” Japan’s No. 2 automaker said in a statement. Nissan has warned that production cuts, which would result in plant closures, would be needed to accelerate cost-cutting and rebuild profits. The 86-year-old Japanese giant posted its first quarterly net loss in nearly a decade last month and slashed its annual profit forecast. Years of heavy discounting on its vehicles to grow market share tarnished the brand’s image and sent sales into a freefall, and pressure is mounting on Nissan and its new CEO Mako
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