Is Nissan going bust?

[JBChiangRai]

In March the ratings group S&P cut Nissan's credit rating to Junk.

 

This week Nissan posted their results for the following 3 months.  Nissan said its operating profit had collapsed 99% to 995m yen (225M THB) in the three months to 30 June, with worldwide sales flatlining at just under 800,000 units.

 

Would you buy a Nissan today?  Did you buy this year?

[KhunLA]

Was a Datsun/Nissan fan back in USA.  Datsun 310, Nissan pick up (only new vehicle ever bought in US), and Nissan Maxima, a very fun car to drive.   Thought about buying one of the 300Zs many times.

 

Wouldn't touch a Nissan now, or the past 25 years.

[stoner]

31 minutes ago, JBChiangRai said:

In March the ratings group S&P cut Nissan's credit rating to Junk.

 

This week Nissan posted their results for the following 3 months.  Nissan said its operating profit had collapsed 99% to 995m yen (225M THB) in the three months to 30 June, with worldwide sales flatlining at just under 800,000 units.

 

Would you buy a Nissan today?  Did you buy this year?

 

the thai family who owns nissan rose dramatically in the rankings this year. strangely enough i never saw them driving a nissan. 

[Gweiloman]

I would not be surprised if the Japanese government were to step in should Nissan go under. The reputational impact on Japanese auto manufacturing would have far reaching consequences. Not that it would solve anything in the long term. Like it or not, the future looks to be electric. Maybe Nissan might do like a MG lol.

[Ralf001]

The Nissan-Renault allliance has been fairly rocky over the past 18 months... hence massive delays with new Navarra.

Would not have been helping their stock price !

 

[JBChiangRai]

I can't help wondering how they would be doing if Carlos Ghosn was still at the helm.

[novacova]

41 minutes ago, JBChiangRai said:

Would you buy a Nissan today? 

No, Honda and Toyota. Though I did own a B210 way back when, the fuel mileage was great at around 38mpg if I recall correctly. But the stock distributor/cam/valves on those were a pita if any of which were worn in the slightest.

[brianburi]

The Nissan dealership in Bung Sam Phan (Phetchabun) has closed.

It was a fairly large dealership but I think it did not sell many vehicles.

 

I bought a two door Navara in 2007, had a decent engine but build quality a bit ropy.  Lots of squeaking and rattles.  For under 8K GBP couldn't really moan too much....... 

 

BSP still has Toyota and Isuzu dealers.  and there's lots of repair/servicing outlets around.

 

[JBChiangRai]

I had a Ford Wildtrak Ranger 3.2 from 2013-2018.

 

During that period I once drove my friend’s top of the range Navara.  I couldn’t believe how much worse it drove.

[xylophone]

When I was looking to buy a new car I test drove the Nissan March and thought it was very good and put it high on my list of potential purchases, however I then drove the Suzuki Swift and decided upon that one, and have never regretted that decision.

 

If Nissan could produce something akin to the March, then perhaps it would be a good buy, however the Nissan Tiida and Leaf are not my "cup of tea". So when the time comes to change my 12 year old Swift, it will more than likely be for another one!

[DavisH]

6 hours ago, xylophone said:

When I was looking to buy a new car I test drove the Nissan March and thought it was very good and put it high on my list of potential purchases, however I then drove the Suzuki Swift and decided upon that one, and have never regretted that decision.

 

If Nissan could produce something akin to the March, then perhaps it would be a good buy, however the Nissan Tiida and Leaf are not my "cup of tea". So when the time comes to change my 12 year old Swift, it will more than likely be for another one!

We still have out swift. The wife was going to trade it for a new one but the dealer would give practically nothing for it. So we just modified it and now my son drives it. Goes and stops a lot better now, and fuel economy has improved. 

[xylophone]

12 minutes ago, DavisH said:

We still have out swift. The wife was going to trade it for a new one but the dealer would give practically nothing for it. So we just modified it and now my son drives it. Goes and stops a lot better now, and fuel economy has improved. 

Wow, looks pretty smart. Well done on the modifications. Should ask what they were, if you don't mind.

[PingRoundTheWorld]

They should go bust for how they treated Carlos Ghosn. He had zero chance of a fair trial as both Nissan executives and Japanese authorities plotted against him. In Japan being extravagantly successful and displaying it for all to see is in itself a crime in some people's eyes. Japanese CEOs typically draw modest salaries and pretend to live modest lives (at least when the public can see).

 

Was the some book-bending? maybe, but probably not enough that would make anyone go after him in another country. Japan is unique in it's disdain for outward displays of success. Sadly the fact he was incredibly successful in turning the company around earned him plenty of enemies.

 

Bottom line is: he made the company successful, they threw him under the bus and destroyed themselves in the process. Anyone hearing the stories would think twice about buying a Nissan, and personally I wouldn't touch it with a stick even if I'd consider another Japanese brand.

[G Rex]

I have only owned 1 Nissan - a 2000 3 litre Patrol 4WD. It was not as good as the Ford Explorer it replaced or the Mitsubishi Pajero that replaced it. All Nissans I have driven have always felt a bit low rent.

Mainstream cars on offer in Thailand are a bit on the boring side, but the Nissan offering here are awful. I would not buy one with your money!

[Furioso]

No Ghosn, No Nissan. 

[Kinnock]

Bought a new X-Trail 4x4 six years ago - it's been an excellent car.  Very smooth ride, comfortable, quiet, spacious, reliable - great for long drives, OK off road, and has high equipment levels.

 

But no longer available in Thailand as production shifted from Thailand to Japan.

 

So even without the concerns about the company, I'd need to look at Honda, Mazda, Subaru (until year end) to get an equivalent 4×4 unibody SUV.  Or pay much more for an imported BMW or Mercedes, or, more likely, move to a truck based SUV.

[Ralf001]

10 hours ago, xylophone said:

So when the time comes to change my 12 year old Swift, it will more than likely be for another one!

 

You wont be buying a new one.

[Ralf001]

18 hours ago, JBChiangRai said:

I can't help wondering how they would be doing if Carlos Ghosn was still at the helm.

 

Ghosn was planning to merge Renault and Nissan which would have placed Nissan under French control.

[DavisH]

15 hours ago, xylophone said:

Wow, looks pretty smart. Well done on the modifications. Should ask what they were, if you don't mind.

Its a long list, not sure i can remember all of it. But you see the air intake with k@n filter. respray the top cover grey, anodised bolts on the cover. oil catch tank (doesn't seem to catch any oil lol). header and no cat, front sway bar, full exhaust (very loud at high rpm, but below 2000 rpm its as silent as a standard car. new injectors, and remap on e20. Wheels 16x7 AOW flow formed wheels/AP racing brakes - appear to be Chinese made but much better than stanard. Emotech coilovers (raised as high as possible but its still quite low). Inside we just changed the stereo to a pioneer, change speakers and did the door damping. The total cost is more than any sane person would pay lol. But we are keeping it for the time being so what we spent didn't really matter - and we didn't want to modify a new car. The wife has a city turbo that is faster than the swift is modified;) Will be changing the tires very soon to michelin pilot sport 4. I've used them before and they are excellent, especially in the rain. 

[DavisH]

11 hours ago, Ralf001 said:

 

You wont be buying a new one.

Or an imported one...I think any new swifts coming here will be hybrids.