Nissan plunges to £1.58bn loss
May 12 2009 By nebusiness
It expects to see sales fall again this year to 3.08 million cars, but is maintaining a launch programme with eight new models planned, including the Pixo in Europe.
The group is also planning for a boost from the Government’s recent car scrappage scheme, which offers a substantial discount on a new vehicle in return for scrapping a motor at least 10 years old.
Nissan said last week that it would need a further 150 jobs at its Sunderland plant to help manufacture around 14,000 extra cars to deal with the increased demand.
It said last month it saw a year-on-year increase in sales in markets such as France, Italy and Germany where they already had scrappage schemes running.
The UK programme is set to start on May 18.
In announcing today’s results, Nissan president and chief executive Carlos Ghosn said: "The global economic recession and financial crisis continue, but we are beginning to see some signs of improved access to credit, the impact of Government stimulus packages and a gradual return in consumer confidence.
"We remain cautious about the economic environment and fully focused on our company’s recovery efforts."
Aside from the Sunderland manufacturing base, Nissan also has a UK head office in Hertfordshire, a European design headquarters in Paddington, west London, and an engineering site in Cranfield, Bedfordshire, which is the technical centre for the European division and employs 600 staff.
