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News, Nissan

Losses in billion$

According to some reports, Nissan may forecast a loss to as much as 1 billion USD. Based on the report, the announcement of that loss may happen this Monday when Nissan announces the third quarter earnings. The figures will reflect the slump that is happening in auto sales right now and this is also a reflection of the impact of the stronger yen. It is not just Nissan who has this problem. As reported too, rival Toyota Motors Corporation will be handed its first operating loss since World War. Nissan is Japan’s third largest automaker. The supposed ‘loss’ of Nissan is actually based on the survey conducted among analysts.

The latest news on Nissan is that the company is now also lining up for help. The company is now also seeking a federal efficiency loan in the US and this is the only Japanese car maker to do so. To be exact, Nissan is seeking the federal loan under the US program for the fuel-efficient automobiles and the company is competing with General Motors Corporation, Ford Motors and Tesla. The source of funds will be the Energy Department and loans will be taken out from the $25 billion fund. These will be the source of the low cost loans which can be  given to succesful applicants in one or two months. The rules for the low cost loans has been finalized last November and the department got 75 applications for projects and the overall project cost $38 billion. Of the 75, only 25 were considered as substantially complete.


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