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Nissan's Profit Drops by 90%
#1 · July 25, 2019, 12:41 PM
This is massive: Nissan saw its quarterly earnings go south by 90%. This is not a laughing matter - empires can go like that. The automotive sector will witness creative destruction at scale.
The Nikkei business daily said earlier Wednesday that Nissan would announce a 90 percent drop in operating profit for the first quarter because of declining US sales, with the cost of developing electric vehicles and autonomous driving technologies weighing on profits.