Nissan slashes full-year results forecast, sees operating loss

Nissan Motor on Tuesday said it expects to post an operating loss for the year that ended in March, as a decline in sales is worsened by the coronavirus outbreak.

In a statement, the Japanese carmaker said that it expects an annual operating loss of as much as ¥45bn (roughly R7.8bn) from a previous forecast announced in February for an operating profit of ¥85bn (roughly R14.8bn).

It expects to post a net loss of as much as ¥95bn (roughly R16.6bn), compared with a previous forecast for ¥65bn profit (roughly R11.3bn).