Nissan is Slashing its Global Product by This Much

Car maker Nissan is cutting its global production by roughly 15% for the fiscal year ending March 2020.

The new was broke by Nikkei newspaper who reported the production cut on Friday. According to the newspaper, the company is moving away from the aggressive expansion campaign promoted by former Chairman Carlos Ghosn.
Ghosn has been removed as chairman and is currently being held in jail in Tokyo on financial misconduct charges.

Ghosn’s wife Carole, wrote a plea in the Washington Post seeking President Donald Trump’s assistance. She wrote, “As a U.S. citizen, I was horrified to discover that many of the rights we enjoy in the United States do not exist in Japan. The right to an attorney during questioning, and all the protections that come with it, does not exist in Japan.”

The cut of 15% would be the biggest cut the company has made in over ten years. The Nikkei also said that the company is battling weak sales in overseas markets including the United States where it plans to scale back sales operations.

Nikkei has said that Nissan plans to make around 4.6 million units in fiscal 2019. The newspaper has also revealed that this could impact earnings and be concerning with Nissan’s alliance with Renault SA. There was no reason given for the latter.

Disclaimer: We have no position in Nissan Motor Co Ltd. (OTCMKTS: NSANY) and have not been compensated for this article.