Nissan posted a massive annual loss as it failed to innovate, compete and restructure and found itself with a tired lineup and lagging in the ongoing technological revolution in the automobile industry.
In an announcement Tuesday, the Yokohama-based company reported a net loss of ¥670 billion ($4.5 billion) in fiscal 2024. The period ended March 31, just days before new 25% tariffs on automobiles were effective in the United States.
It is the third biggest annual loss in Nissan’s history.
