Nissan global sales down 47.7% in 1Q of 2020

MANILA: Nissan Motor Co., Ltd. has released financial results pertaining to the first quarter of 2020 and just like every other automaker, the numbers are distressing.

Revenue in the first quarter of 2020 is down 50.5% compared to last year, which has forced Nissan to secure an additional ¥182.4 billion in funds to address issues caused by the COVID-19 pandemic. ¥70 billion in corporate bonds were issued as well to maintain cash on hand of more than ¥1.2 trillion.

Nissan’s global sales declined by 47.7% to just 643,000 units, which shrank their market share 0.3 point compared to 2019.

Sales in Japan fared a little better with the popularity of the Roox ‘wagon-type’ kei car, which was launched in March 2020, but it was also down by 33.7%.

China sales fell by 39.9% but saw Nissan’s market share in the country go up by 0.5 points, which makes the automaker optimistic in seeing sales growth of 4% year-on-year.

In the US, Nissan’s sales down by 49.5% but expectations are it will bounce back with the arrival of the all-new Rogue at dealerships in September 2020.

Despite all that, Nissan has been aggressive to say the least. The all-new Ariya was just revealed globally (Japan will get it first), the all-new Juke launched in Australia in the first quarter and Hong Kong in June, while the Kicks e-Power and Navara N-Trek Warrior was just launched in region.

Nissan expects its global retail volume for 2020 to go down by 16.3%.

Photo from Nissan

Also read: Nissan scraps 2020 NISMO Festival