Nissan Motor reported a Y234bn ($2.4bn) loss for the financial year to March on Tuesday and warned of more red ink this year, though it predicted that cost cuts would return it to profit in 2010.
Japan’s third-largest carmaker said it expected to sell just over 3m cars this year, some 330,000 fewer than last year and roughly the same number it sold back in 2003, illustrating the severe damage wreaked by the recession on global vehicle demand.
