Autos are supplied on the market at a Nissan dealership on December 18, 2024 in Libertyville, Illinois.
Scott Olson | Getty Pictures
Nissan CEO Ivan Espinosa on Wednesday mentioned the short-term focus is to repair the struggling Japanese automaker, because it seeks to get again on a stable footing.
“I feel within the quick time period, the main target that we’ve got is to repair ourselves the corporate,” Espinosa informed CNBC’s “Squawk Field Europe.”
“We’re satisfied that the plan is sufficient and sturdy,” he added.
Espinosa, who solely assumed management of the Japanese automaker in April, faces an uphill battle to alter the tide of Nissan’s whittled down fortunes.
The agency has been contending with declining gross sales, the transition to electrical automobiles and steep world competitors, notably from Chinese language rivals. These challenges have now been exacerbated by U.S. President Donald Trump’s sweeping 50% world tariffs on metal and aluminum, together with different so-called reciprocal levies on particular person international locations which can be briefly lowered underneath a reprieve set to run out in July.
Final month, Espinosa revealed the corporate’s plans to slash 11,000 jobs and shut down seven crops, Reuters reported, amid expectations of a 3% drop in sale volumes within the present fiscal 12 months.
On the finish of final 12 months, the corporate fleetingly flirted with a attainable tie-up with Japanese peer Honda in talks that would have created the world’s third largest automaker by gross sales — however negotiations broke down in February.
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