Nissan on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management.
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Feb. 13, 2020
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Nissan Slashes Profit Outlook After Sales Slide, Says More Restructuring Needed​
Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn. Nissan’s sharply waning earnings power has already prompted plans to slash jobs, close manufacturing sites and drop product offerings as the automaker steps back from an aggressive pursuit of market share championed by Ghosn.
​Source: Reuters

Only One Detroit Vehicle Qualifies for Coveted Top Safety Rating​
Only one Detroit vehicle has earned the coveted Top Safety Pick+ designation from the Insurance Institute for Highway Safety, under new criteria that prioritize the protection of pedestrians in addition to vehicle occupants. And even that vehicle — the Cadillac XT6 midsize SUV, which went on sale in June — has an asterisk, because it's only those built after October.
​Source: The Detroit News

Originations Soar at Nation's Top Auto Lenders​
The nation's largest auto lenders capped off 2019 with strong origination growth amid shrinking new-vehicle sales. Ford Motor Co.'s lending arm posted its best results in nine years, while Santander Consumer Holdings USA set record-high auto originations for the year. Originations slid for General Motors, meanwhile, as a result of complications from an incentive program.
​Source: Automotive News

U.K. Plan to Ban Petrol and Diesel Cars Creeps Forward to 2032
The U.K.’s deadline for killing off vehicles powered by fossil fuels keeps moving earlier -- and could now be just 12 years away. Transport Secretary Grant Shapps said Wednesday that Prime Minister Boris Johnson’s government is seeking to end the sale of new petrol and diesel cars by 2032 to meet its goal for net zero emissions by the middle of the century. That’s three years earlier than the 2035 date Johnson announced last week, and eight years earlier than the 2040 deadline announced just two-and-a-half years ago.
Source: Bloomberg

Book an NADA Demo Now and Start Selling More Cars (Sponsored Content)
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Source: automotiveMastermind

Quotable

“Unfortunately, our business performance has worsened more than we anticipated, and there’s no letting up on investing in the future. In order to invest in growth, we ended up with this dividend.”

– Makoto Uchida, Nissan CEO, Bloomberg, Feb. 13

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NADA to Honor Toyota CEO Jim Lentz at NADA Show 2020

Jim Lentz, chief executive officer of Toyota Motor North America, Inc., will be honored at this year’s NADA Show for his many years of faithful service in the automotive industry. Don’t miss the award presentation during the Sunday general session, taking place at 3pm in Hall N4 at the Las Vegas Convention Center. Those who aren’t able to join us in Las Vegas can view the presentation and portions of the keynote session on the NADA Show Livestream page here. Help us celebrate this industry veteran at the Auto Industry Event of the Year.
Source: NADA

10 Semifinalists Named in the Women Driving Auto Retail Video Contest

The ten semifinalists in the Women Driving Auto Retail video contest are in! The contest called on women working in the auto retail industry to share their career path, why they love the auto retail industry and encourage other women to pursue automotive careers.
Source: NADA

NADA Market Beat: Light Trucks Represent 75% of All Light Vehicles Sold

New light-vehicle sales in January were close to flat compared to this time last year. January’s SAAR of 16.84 million units represents an increase of 0.8%. 
Source: NADA

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