Nissan Falls on Report of Further Production Cuts, Tariffs

Bloomberg2024-11-26

(Bloomberg) -- Nissan Motor Co. shares fell Tuesday after reports the struggling automaker plans to cut production in the US, and President-elect Donald Trump touted plans to impose tariffs on imports...

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However, the rebound was shortlived, with the stock back down 4% at 2:55 p.m. local time.Nissan plans to build 100,000 fewer vehicles than last year at its plants in Mississippi and Tennessee in the fiscal year ending March 31, 2025, Automotive News said Monday. The cuts will affect models including the Frontier, Rogue, Pathfinder and Infiniti QX60, the report said.A Nissan spokesperson declined to comment directly on the report, but said the company will evaluate production forecasts “in response to market dynamics to ensure healthy supply and","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","NSANF":"Nissan Motor Co., Ltd.","NSANY":"日产汽车"},"translate_title":"日产汽车因进一步减产和关税的报道而下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NSANF":0.9,"NSANY":0.9},"content_text":"(Bloomberg) -- Nissan Motor Co. shares fell Tuesday after reports the struggling automaker plans to cut production in the US, and President-elect Donald Trump touted plans to impose tariffs on imports from Mexico, where the carmaker has factories, as well as Canada. \nThe stock fell as much as 4.9% in early Tokyo trading, then briefly erased the losses in the afternoon session after the Financial Times reported the company is searching for an anchor investor. However, the rebound was shortlived, with the stock back down 4% at 2:55 p.m. local time. \nNissan plans to build 100,000 fewer vehicles than last year at its plants in Mississippi and Tennessee in the fiscal year ending March 31, 2025, Automotive News said Monday. The cuts will affect models including the Frontier, Rogue, Pathfinder and Infiniti QX60, the report said. \nA Nissan spokesperson declined to comment directly on the report, but said the company will evaluate production forecasts “in response to market dynamics to ensure healthy supply and inventory levels.” \nThe carmaker, saddled with cratering profit and an outdated lineup, had already announced earlier this month that it was going to eliminate 9,000 jobs and slash production by 20%. \nAlso Monday, Trump said he would impose a 25% tariff on all goods imported from Mexico and Canada until they clamp down on the flow of migrants and illegal drugs into the US. Nissan builds cars and engines in Mexico and the specter of steep tariffs on US imports adds to its woes. The firm earlier this month lowered its full-year operating income guidance by 70%.\nNissan is now seeking a long-term, steady shareholder such as a bank or insurance group to replace some of Renault SA’s equity holding and help it survive a make-or-break year, the FT reported, citing people familiar with the matter. Nissan hasn’t ruled out the possibility of Honda Motor Co. buying a portion of its shares.\nNissan shares have been on a roller coaster ride this month, plunging when it released its dire profit outlook, before rebounding after activist investor Effissimo Capital Management Pte disclosed it had a stake in the automaker. \n“In the short term, it’s inevitable that the decrease in production volume — hence lower sales — will be viewed negatively”, said Bloomberg Intelligence senior auto analyst Tatsuo Yoshida. “Yet, the production cuts may appear positive in the long term, given any delay in cutting production also leads to problems including the higher cost of selling inventory vehicles.”\n--With assistance from Momoka Yokoyama.\n(Adds Financial Times report.)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486104124"}