Core Insights - The global automotive industry is undergoing a significant leadership transition, with major companies like Nissan, Stellantis, and Porsche facing unprecedented challenges and financial losses due to the shift towards electrification and market pressures [2][3][10]. Group 1: Industry Challenges - Traditional automakers are struggling with the dual pressures of regulatory policies and market demands for electrification, leading to increased financial strain and reliance on internal combustion engine (ICE) vehicles for revenue [2][3]. - The shift towards electric vehicles (EVs) has not met expectations, resulting in substantial losses for companies like Porsche, which reported a third-quarter operating loss of €966 million [10][11]. - The competitive landscape is intensifying, particularly from Chinese automakers that leverage flexible supply chains and localized technology, further squeezing the market share of established foreign brands [2][3]. Group 2: Company-Specific Developments - Stellantis reported a net loss of €2.256 billion in the first half of the year, a stark contrast to a profit of €5.647 billion in the same period last year, primarily due to asset write-downs and tariffs [4][5]. - Nissan announced a net loss of ¥221.921 billion for the first half of the fiscal year, with a projected loss of ¥670.9 billion for the entire fiscal year, prompting the sale of its headquarters to alleviate financial pressure [13][14]. - Porsche's financial performance has deteriorated significantly, with a 67.1% drop in operating profit to €1.01 billion in the first half of the year, attributed to strategic adjustments and increased costs from tariffs and restructuring [11][12]. Group 3: Leadership Changes - The leadership changes at Stellantis, Nissan, and Porsche are seen as urgent measures to address ongoing crises, with new CEOs tasked with implementing significant reforms [3][4][10]. - Stellantis' new CEO, Carlos Tavares, faces the challenge of balancing regional interests amid a shift in focus towards the U.S. market, including a $13 billion investment plan [5][6]. - Nissan's new CEO, Ivan Espinosa, is implementing a drastic restructuring plan aimed at reducing global production capacity and cutting 20,000 jobs, reflecting the depth of the company's crisis [14][15]. Group 4: Market Dynamics - The imbalance in regional markets and fluctuating policies, particularly U.S. tariffs on imported vehicles, are exacerbating operational pressures for multinational automakers [3][5]. - Renault's new CEO, Luca de Meo, is expected to navigate the company through a challenging landscape, with plans for voluntary layoffs and strategic partnerships to enhance competitiveness [7][9]. - Jaguar Land Rover is grappling with the aftermath of a cyberattack that halted production, highlighting vulnerabilities in the digital transformation of traditional manufacturers [16][17].

Core Viewpoint - Nissan has reported significant financial losses while finalizing the sale of its global headquarters building in Yokohama for 97 billion yen (approximately 4.5 billion RMB) to a consortium led by China's Minth Group and US private equity firm KKR [2][3] Financial Performance - For the first half of the 2025 fiscal year (April-September 2024), Nissan's revenue was 5,578.7 billion yen, a year-on-year decline of 6.8% [3] - The company reported an operating loss of 27.7 billion yen, compared to an operating profit of 32.9 billion yen in the same period last year [3] - Net loss reached 221.9 billion yen, contrasting with a net profit of 19.2 billion yen in the previous year [3] - The report indicated that U.S. tariffs reduced operating profit by 149.7 billion yen (approximately 6.9 billion RMB) [3] Sales and Market Performance - Global sales for the first half of 2025 were 1.48 million units, down 7.3% year-on-year [5] - Sales in major markets such as China, Japan, and Europe declined, with only North America showing slight growth [5] - In China, Nissan's sales fell to 696,000 units in 2024, a decrease of 12.2% compared to the previous year, and down by half from 1.381 million units in 2021 [3] Strategic Initiatives - The sale of the headquarters is part of Nissan's broader recovery strategy under new CEO Ivan Espinosa, who launched the "Re:Nissan" plan aimed at significant cost reduction [6] - The plan includes consolidating global manufacturing plants from 17 to 10 by the 2027 fiscal year and reducing annual production capacity from 3.5 million to 2.5 million vehicles [6] - Nissan plans to cut 20,000 jobs, representing 15% of its workforce, which is a more aggressive reduction compared to previous reforms [6] Challenges Ahead - The company faces strong opposition from domestic labor unions regarding the layoffs [6] - Nissan's market position is under pressure due to slow progress in electric vehicle technology and competition in key markets like China and the U.S. [6][7] - The company anticipates an operating loss of 275 billion yen for the 2025 fiscal year, with profit losses expected from currency fluctuations and tariffs [7]

Core Viewpoint - Nissan faces criticism regarding its new car development, with shareholders questioning the lack of new models compared to competitors. The company needs to enhance sales to increase revenue and restore its investment capabilities, as well as revive its reputation as "Technology Nissan" [1][2]. Group 1: New Car Development Challenges - Shareholders expressed concerns about Nissan's new car development during the June 24 shareholder meeting, highlighting the absence of new models [1][2]. - Nissan's development cycle has extended to 55 months, which has hindered its ability to respond flexibly to market demands and consumer dissatisfaction due to the lack of desirable new cars [2]. Group 2: Competitive Position and Future Plans - Nissan was a pioneer in electric vehicles (EV) with the launch of the Leaf in 2010, but it has since fallen behind competitors like Chinese brands and Tesla in the EV market [2]. - The company plans to update the Leaf by 2025, marking its first update in eight years, with the new model expected to achieve the highest range in its class, utilizing Nissan's most advanced EV technology [2]. - Nissan aims to reduce its development cycle to 30 months, outlining a strategy to regain growth through a new car offensive, despite facing financial constraints due to restructuring [2].

Group 1: Sales Performance of Japanese Automakers - In April, Toyota's new car sales in China increased by 20.8% year-on-year, reaching 142,800 units, marking three consecutive months of growth, driven by its focus on hybrid and electric vehicles [2] - In contrast, Honda's sales in China fell by 40.8% to 43,689 units, while Nissan's sales decreased by 15.7% to 46,295 units, with Honda experiencing a 15-month consecutive decline and Nissan a 13-month decline [2] - Nissan plans to cut 21,000 jobs, which is 15% of its total workforce, and will close three factories, acknowledging that management errors, particularly in electric vehicle strategy, contributed to its current challenges [2] Group 2: Global Electric Vehicle Market Trends - The global electric vehicle transition is an unstoppable trend, with traditional automakers in Europe, such as Volkswagen and Mercedes-Benz, accelerating their electrification efforts to secure a competitive position [3] - Tesla leads the U.S. market, driving technological advancements in electric vehicles and expanding its global presence, setting a benchmark for the industry [3] - In China, BYD is recognized as a leading electric vehicle manufacturer, with significant advancements in technology and product offerings [5] Group 3: Market Share and Industry Position - In 2022, China's market share of new energy vehicles reached 24.4%, the highest globally, followed by Europe at 17.3%, while India and Japan lag behind [7] - BYD's chairman emphasized that China's new energy vehicle sector is approximately 3 to 5 years ahead globally in terms of technology and product development, advocating for open innovation and international collaboration [9] - The challenges faced by Japanese automakers in the electrification transition serve as a warning for the global automotive industry, highlighting the need for timely strategic adjustments and increased investment in new energy and smart technologies [9]

以下文章来源于南风窗 ，作者荣智慧 南风窗 . 冷静地思考，热情地生活。 背后是中国新能源汽车的"得势"。 作者 | 荣智慧 编辑 | 向由 来源 | 南风窗 （ID：SouthReviews） 12月23日，日本汽车制造商本田汽车公司和日产汽车公司在东京共同宣布，本田与日产 将正式开启合并谈判。 日本三大车企丰田、本田、日产，人称"御三家"。本田和日产合并，三家一下剩两家。 忽喇喇似大厦倾，日产出手就是"死亡倒计时"。刚被曝光现金流还能撑12个月，紧接 着"接盘侠"本田就进了场。 如果顺利，此次合并将成为斯特兰蒂斯成立以来汽车行业最大的合并案例。新集团将由 本田和讴歌、日产和英菲尼迪以及三菱组成，而雷诺-日产-三菱联盟如何切割尚未可 知。 电动汽车时代，风月无情人暗换。 曾经睥睨江湖的日系霸主也不得不待价而沽，这在日产历史上倒不是第一回。在一个早 已天翻地覆的行业里，一心靠抱团取暖，凑起来的很可能是"失败者联盟"。 死亡倒计时 触发日产"死亡倒计时"的事件，是财报。 财报显示，今年4月到9月，日产净利润为192亿日元（约合人民币9亿元），同比下滑 94%。第三季度，净利润转盈为亏，单季亏损93亿日元。截至三 ...