Nissan Motor Co Ltd's management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next ...
Nissan Motor Co Ltd's management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said.
But Nissan's plans for restructuring through to March 2023 should be based on the assumption that it would only be able to return to annual sales of 5 million cars by then, two sources said, adding this would entail a large reduction to manufacturing capacity. In July, Nissan said it was aiming to cut annual global production capacity to around 6.5 million vehicles. Shrinking its sales target by 1 million vehicles would equate to closing three to four more assembly plants and shedding thousands more jobs on top of already announced plans to cut its workforce by 10per cent. The cutbacks would also ripple through to its suppliers and dealers.
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