It looks like Nissan’s woes are far from over. As shared by Reuters, the Yokohama-based brand discussed its plans to sell 5% of its 15% ownership of French carmaker Renault, in an effort to generate funds and keep operations afloat. The report states that offloading 5% could generate about ¥100 billion (P39.2 billion) for Nissan.
In a separate report from Nikkei Asia, it was said that Nissan may need to save around ¥500 billion (P109.7 billion) to recover from its losses and retain its viability. There, Nissan then brought up the idea of selling its storied Yokohama headquarters, which would cushion the brand by another ¥100 billion.
OTHER STORIES YOU MIGHT HAVE MISSED:
PH fuel price update: Massive P1.80/L increase for both gas, diesel effective June 17
May Huli Ka: You can now check for NCAP violations on the MMDA’s new website
Nissan CEO Ivan Espinosa inherited these troubles when he assumed his post back in April earlier this year. To cut costs and save money, Espinosa and his boardroom have ordered the closure of seven production lines and the termination of around 20,000 jobs.
Amid these troubling reports, it seems that Nissan’s development offices are still hard at work producing new and exciting vehicles. Images from the World Intellectual Property Organization suggest that a new Nissan sedan is in the works, while the release of the all-new Patrol gave the brand a well-needed win.
Perhaps the introduction of an all-new Sentra or Altima could give Nissan another boost, or at least attract some positive press. The brand may still be in the trenches, but the way out could be as simple as one good car after another.
