Nissan CEO says short-term focus is to fix the company

Nissan CEO says short-term focus is to fix the company


Vehicles are offered for sale at a Nissan dealership on December 18, 2024 in Libertyville, Illinois. 

Scott Olson | Getty Images

Nissan CEO Ivan Espinosa on Wednesday said the short-term focus is to fix the struggling Japanese automaker, as it seeks to get back on a solid footing.

“I think in the short term, the focus that we have is to fix ourselves the company,” Espinosa told CNBC’s “Squawk Box Europe.”

“We are convinced that the plan is enough and robust,” he added.

Espinosa, who only assumed leadership of the Japanese automaker in April, faces an uphill battle to change the tide of Nissan’s whittled down fortunes.

The firm has been contending with declining sales, the transition to electric vehicles and steep global competition, particularly from Chinese rivals. These challenges have now been exacerbated by U.S. President Donald Trump’s sweeping 50% global tariffs on steel and aluminum, along with other so-called reciprocal levies on individual countries that are briefly reduced under a reprieve set to expire in July.

Last month, Espinosa revealed the company’s plans to slash 11,000 jobs and shut down seven plants, Reuters reported, amid expectations of a 3% drop in sale volumes in the current fiscal year.

At the end of last year, the company fleetingly flirted with a possible tie-up with Japanese peer Honda in talks that could have created the world’s third largest automaker by sales — but negotiations broke down in February.

This is breaking news. Please refresh for updates.



Source

European Central Bank’s latest rate cycle is ‘done,’ chief economist says
World

European Central Bank’s latest rate cycle is ‘done,’ chief economist says

The European Central Bank’s latest period of monetary policy interventions to bring inflation in check is “done,” the institution’s chief economist Philip Lane told CNBC on Tuesday. “We do think the last cycle is done, bringing inflation down from the peak of 10[%], back to 2%, that element is over, but on a forward-looking basis […]

Read More
CNBC Daily Open: Keeping a cool head paid off for investors
World

CNBC Daily Open: Keeping a cool head paid off for investors

Britain’s Prime Minister Keir Starmer speaks with US President Donald Trump as they attend the North Atlantic Council plenary meeting at the North Atlantic Treaty Organisation summit in The Hague, Netherlands, on June 25, 2025. Ludovic Marin | Via Reuters What a first half of the year it has been. In the first six months, […]

Read More
China’s June factory activity unexpectedly expands, private survey shows
World

China’s June factory activity unexpectedly expands, private survey shows

HANGZHOU, CHINA – JUNE 30, 2025 – A worker is working in the production workshop of a steel structure factory in Hangzhou City, Zhejiang Province, China on June 30, 2025. CFOTO | Future Publishing | Getty Images China’s factory activity unexpectedly returned to growth among export-oriented manufacturers in June, a private survey showed Tuesday, as […]

Read More