近日，日产汽车发布2025财年第一季度财报，报告期内，日产汽车其净亏损1157.6亿日元，同比由盈转 亏，利润率降至-2.9%。合并营业亏损为791亿日元，优于此前预测的2000亿日元。日产汽车全球销量为 70.7万辆，合并净收入为2.7万亿日元。 对此，日产汽车方面对《中国经营报》记者表示，通过Re:Nissan计划的稳步推进，当前财务表现好于 预期。 日产汽车公司代表执行官、总裁兼首席执行官伊凡·埃斯皮诺萨（Ivan Espinosa）表示："这些数据提醒 着我们Re:Nissan计划背后的紧迫性。在过去这一个季度，我们坚决地实施了各项初步举措——削减成 本、重新定义产品和市场战略，以及加强关键合作伙伴关系。而现在，我们必须走得更远、更快，才能 实现盈利。日产全体员工齐心协力，共同实现重振目标，确保公司拥有可持续且盈利的未来。" 第一季度节省300多亿日元 在上一财年，日产汽车交出了一份亏损财报，公司全球销量334.6万辆，净亏损6709亿日元。 从短期来看，日产汽车对未来销售前景仍不乐观。公司调整了半年度的预期，预计净销售额为5.5万亿 日元，亏损1800亿日元。这意味着，对于今年7—9月份的第二财季， ...

Investment Rating - The report maintains an "Underperform" rating for Nissan Motor Co Ltd with a price target of ¥250.00 [1][7][39] Core Insights - Nissan's Q1 profits may appear better than guidance, but the path to a turnaround is expected to be challenging due to structural headwinds and the impact of US tariffs [1][10][14] - The company has lowered its operating profit forecast for FY3/26 to JPY -160 billion, reflecting a more conservative perspective on the impact of US tariffs [2][13] - The Re:Nissan recovery plan aims to achieve positive operating profit and free cash flow by FY3/27 through cost reductions and refining market strategies [12][39] Financial Performance - For FY3/25, Nissan reported sales of JPY 12,633 billion, operating profit of JPY 70 billion, and a net profit of JPY -671 billion, with operating profit falling short of guidance by 18% [11] - The forecast for global retail volume in FY3/26 is 3.161 million units, a decrease of 5.5% year-over-year, with a significant impact expected from US import tariffs [2][13] - The company anticipates an operating loss of JPY -200 billion for Q1, attributed to reduced shipment volumes and increased unprofitable fleet sales [3][14] Strategic Initiatives - The Re:Nissan plan includes reducing variable and fixed costs by JPY 250 billion each by FY3/27, consolidating vehicle plants, and reducing the workforce by 20,000 employees by FY3/28 [12][39] - Nissan aims to redefine its market and product strategy, focusing on key markets and models, while reinforcing partnerships with Renault and MMC [12][39] Market Context - Nissan has faced a 40% drop in global sales volume over the past five years due to intensified competition in core markets [17][18] - The company continues to lose market share in the US, China, and ASEAN regions, indicating a structural issue that needs addressing [20][22][24]