According to Reuters, Nissan’s restructuring efforts and overall sales are going better than expected. Operating loss is projected to be $3.2 billion this year, a figure originally predicted to be around $4.5 billion. For the third business quarter of this year, Nissan has just reported a $45 million operating loss compared to a $285 million the same time last year.
Still, things are heading in the right direction as it continues to cut production and its overall vehicle lineup by a fifth. This will hopefully result in cutting costs by $2.9 billion over three years. “We are confident we are on track,” said Chief Operating Officer Ashwani Gupta. On the one hand, Nissan is in a better situation than it was not long ago but its pandemic recovery is moving slower than that of its rivals. One reason for this remains Nissan’s still mostly dated product lineup and its previous profit reliance on fleet sales.