Nissan forecasts annual net loss of up to US$5.3bil

Struggling Japanese auto giant Nissan issued a stark profit warning on Thursday, forecasting a huge loss of up to US$5.3 billion in the 2024-25 financial year.

One of the top 10 automakers by unit sales, Nissan is heavily in debt, cutting jobs and like its peers now faces headwinds from US President Donald Trump's vehicle tariffs.

"As part of the revised outlook, Nissan expects to report a net loss of 700-750 billion yen (US$4.9 billion-US$5.3 billion) for fiscal year 2024," a company statement said Thursday.

"The revision is due to costs related to its ongoing turnaround plan, and other factors," it added, weeks ahead of its full-year earnings announcement on May 13.

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