Nissan forecasts $6.4 billion annual net loss amid pandemic


Team Udayavani, Jul 28, 2020, 2:34 PM IST

New Delhi: Crisis-hit Japanese automaker Nissan on Tuesday warned of a massive $6.4 billion net loss for the current fiscal year as it reels from the impact of the coronavirus pandemic.

Nissan, which had delayed an annual forecast because of ongoing uncertainty, issued the warning as it reported a first-quarter net loss of 285.6 billion yen ($2.7 billion) on plunging sales.

“These results… reflect a full quarter of Covid-19 disruption that we knew would undermine our performance in key markets,” chief operating officer Ashwani Gupta said announcing the results.

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