We’ve been waiting to hear what Nissan has planned to address its slipping sales and aging lineup. Today Nissan has released the details of its turnaround plan. The good news is that Nissan plans to introduce 12 new models, but 14 models will also die.
Last year Nissan’s sales were down 8.4 percent with only 5,176,189 vehicles sold compared to 5,653,700 vehicles in 2018. Nissan also reported an operating loss of 40.5 billion yen ($376 million) for the year ending March 31 compared to an operating profit of 318 billion yen the year before.
To turn things around, Nissan has revealed a four-year strategy that will see it reduce its annual capacity by 20 percent to 5.4 million vehicles. Nissan also wants its plants running at 80 percent utilization, but at the same time its plants in Indonesia and Spain will be closed.