Nissan still slumping
Nissan’s President, Carlos Ghosn, was soundly criticized earlier this year at the company’s annual meeting of shareholders for the slumping profits at the company. Nissan’s top officers, including Ghosn, elected to give up their executive bonuses for the year. All of this and promised they’d do better in the future.
Not so far, they haven’t.
For the first quarter of this year, only now being reported, profits were again down compared to last year. Profits were down in the third and fourth quarters of last year, too.
Of course, this is still a profit – a profit of $765 million, in fact.
Nissan blamed the drop in profit on economic factors, as well as the increased popularity of small cars, which are less profitable. Nissan expects new model introductions to reverse the trend.