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EXCLUSIVE-Nissan plans 30% cut in output to Dec as virus hits demand -sources

Credit: REUTERS/ISSEI KATO

Nissan Motor Co is planning a 30% year-on-year cut in global vehicle production through December as falling demand due to the coronavirus complicates its efforts to recover profitability, two sources with knowledge of the matter have told Reuters.

By Naomi Tajitsu and Maki Shiraki

TOKYO, July 16 (Reuters) - Nissan Motor Co 7201.T is planning a 30% year-on-year cut in global vehicle production through December as falling demand due to the coronavirus complicates its efforts to recover profitability, two sources with knowledge of the matter have told Reuters.

Japan's No. 2 automaker plans to produce around 2.6 million vehicles between April and December, down from 3.7 million during the same period last year, the sources said.

Global automakers are struggling after factories were shuttered earlier this year to stem the spread of the coronavirus outbreak.

Car dealerships were also closed in many countries, pummelling vehicle sales in March through May, although the fall in sales slowed in June.

(Reporting by Naomi Tajitsu and Maki Shiraki; editing by Jason Neely)

((naomi.tajitsu@thomsonreuters.com; +81364411078; Reuters Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net))

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