Nissan is focusing on sales in China and the U.S. and reducing its presence in Europe where it is shuttering its plant in Barcelona, Spain.
To further refresh its aging lineup, Nissan said in May that it will launch 12 new cars in the next 18 months. It plans to cut both capacity and the number of models by 20 percent and will no longer pursue volume growth to shed the legacy from the Ghosn era.
Job cuts
Its restructuring plan calls for the elimination of about 14,000 jobs globally, up from 12,500 announced a year ago.
Uchida told a briefing on Thursday the company had to restore the faith of suppliers and dealers. “I am committed to building models that embody Nissan-ness,” he said.
“While we may have upgraded our outlook, the reality is that we are still looking a lot of red ink,” Uchida said. “We need keep on the current track and prove that we can do better.”
Online sales focus
As part of its drive to become leaner, Nissan will move towards online sales globally, COO Ashwani Gupta said on Thursday, as more companies look to reevaluate retail space after the COVID-19 crisis.
Nissan raised its forecast for full-year global vehicles sales to 4.17 million units compared with an earlier forecast of 4.13 million units, although that still represents a decline from the previous year.
Bloomberg and Reuters contributed to this report
