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Nissan falls on report of further production cuts, tariff threat

by Yurie Miyazawa
in Leadership
Nissan falls on report of further production cuts, tariff threat
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NISSAN Motor shares fell on Tuesday (Nov 26) after reports the struggling automaker plans to cut production in the US, and President-elect Donald Trump touted plans to impose tariffs on imports from Mexico and Canada, where the carmaker has factories.

The stock fell as much as 4.9 per cent in early Tokyo trading, before paring losses to be down 3.9 per cent at 11.42 am local time. It is down almost 30 per cent this year.

Nissan plans to build 100,000 fewer vehicles than last year at its plants in Mississippi and Tennessee in the fiscal year ending March 31, 2025, Automotive News said on Monday. The cuts will affect models including the Frontier, Rogue, Pathfinder and Infiniti QX60, the report said.

A Nissan spokesperson declined to comment directly on the report, but said the company will evaluate production forecasts “in response to market dynamics to ensure healthy supply and inventory levels”.

The carmaker, saddled with cratering profit and an outdated lineup, had already announced earlier this month that it was going to eliminate 9,000 jobs and slash production by 20 per cent.

Also Monday, Trump said he would impose a 25 per cent tariff on all goods imported from Mexico and Canada until they clamp down on the flow of migrants and illegal drugs into the US. Nissan builds cars and engines in Mexico and the spectre of steep tariffs on US imports adds to its woes. The firm earlier this month lowered its full-year operating income guidance by 70 per cent.

Nissan shares have been on a roller coaster ride this month, plunging when it released its dire profit outlook, before rebounding after activist investor Effissimo Capital Management disclosed it had a stake in the automaker.

“In the short term, it’s inevitable that the decrease in production volume – hence lower sales – will be viewed negatively”, said Bloomberg Intelligence senior auto analyst Tatsuo Yoshida. “Yet, the production cuts may appear positive in the long term, given any delay in cutting production also leads to problems including the higher cost of selling inventory vehicles.” BLOOMBERG

Tags: CutsFallsNissanProductionReportTariffThreat
Yurie Miyazawa

Yurie Miyazawa

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