Nissan’s Profit Slump
The first quarter of the 2024 fiscal year (equivalent to Q2 2024 in standard terms) was a challenging period for Nissan. The company’s operating profit plummeted by 99.2% to just ¥995 million (approximately $6.4 million). Net profit also decreased by 72.9%, settling at ¥28.562 billion (around $184.6 million).
Nissan had an underwhelming quarter. Image: Nissan Dealer
The lackluster financial results prompted Nissan to adjust its targets for the full 2024 fiscal year. Specifically, the sales target was lowered to 3.65 million vehicles, down from the previous 3.7 million. The operating profit goal was also reduced to ¥500 billion (around $3.2 billion) from ¥600 billion (approximately $3.9 billion).
Amid these circumstances, information about an upcoming lineup of new vehicles is expected to breathe new life into Nissan’s business.
Vehicles Expected to Boost Sales
During the presentation of the financial results, a slide introducing Nissan’s important new car models garnered particular attention, alongside the usual numbers and charts.
In addition to previously announced names such as the Infiniti QX80, Nissan Kicks, the facelifted Nissan Note Aura, and the Nissan Ariya Nismo version, the slide also revealed four mysterious vehicles whose designs were kept under wraps.
“The Army” expected to help Nissan regain its position. Image: Nissan
Two of these vehicles bear a similar proportion to the Infiniti QX80, suggesting they could be the Patrol (intended for the Middle Eastern market) and the Armada (for the US market). However, from these angles, it’s challenging to discern any design differences in these large SUVs or if they will resemble their predecessors, which were almost identical.
The mid-size SUV on the right is likely the Nissan Murano, expected to debut soon in the North American market as the 2025 model. The overall lines align with recent spy shots. Additionally, leaked images indicate that the car will feature split headlights.
Nissan is expected to introduce a small electric SUV soon. Image: Autocar
The final model appears to be a smaller crossover or SUV, likely in the B-segment. Due to the lack of detailed information in the presentation, experts can only speculate based on recent reports.
Its proportions suggest a small SUV rather than the anticipated Nissan Leaf crossover. It could also be the rumored electric version of the Nissan Juke, expected to launch between 2025 and 2027. The Nissan Juke is a B-segment SUV, replaced by the Kicks in certain markets like Vietnam. The electric variant is anticipated to be sold in Europe alongside the combustion engine version, which debuted in 2019 and received updates for 2024 with a new infotainment system.
Sharing Nissan’s development strategy, CEO Makoto Uchida stated that the company would focus on various markets with tailored products. In the US market, Nissan aims to attract customers with the new Armada and Murano, along with the Infiniti QX80. The European market will see the introduction of e-Power (hybrid) versions of the Juke, Qashqai, and X-Trail. Meanwhile, the new Patrol will soon be launched in the Middle East, and in the Japanese domestic market, Nissan will concentrate on the Note hatchback, Serena minivan, and the Sakura and Dayz kei cars.
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