Nissan’s plant in Rosslyn, Pretoria, might be up for sale if one has to believe recent reporting by media outlet, Bloomberg.
According to Bloomberg Nissan’s CEO, Ivan Espinosa, is working hard to save the struggling Japanese carmaker, which faces a $5.6 billion debt repayment wall next year. The company is seeking to raise more than $7 billion from debt and asset sales to keep operations on track.
It is also reported that Nissan is seeking to sell part of its stakes in Renault and battery maker AESC, as well as plants in South Africa and Mexico, according to Bloomberg. Sale- and lease-back plans for its Yokohama headquarters, plus properties it owns in the US, are also on the cards.
Nissan was in talks earlier this year with Honda to join forces, but the talks collapsed. More recently, there was speculation that Toyota might be interested in helping Nissan but to date no concrete steps have come from the speculation.
Nissan Motor Corporation says in its reaction to reports on the potential closure of certain plants that it wants to clarify that this news is speculative and not based on any official company information.
“We have officially announced to consolidate the production of Nissan Frontier/Nissan Navara pickups, currently split between Mexico and Argentina, into a single production HUB in the region, centralised at the CIVAC plant in Morelos, Mexico. In March, we announced that Renault Group would own 100% of Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring the 51%shareholding currently held by Nissan.
“At this time, we will not be providing further comments on this matter. Our focus remains on our operations and the dedicated workforce that drives our success. We are committed to maintaining transparency with our stakeholders and will communicate any relevant updates as necessary,” the Nissan statement says.
The used car group, Cubbi, has officially opened the doors of its new flagship megastore in Germiston, a site with more than 300 vehicles ranging from entry-level hatchbacks to premium SUVs.
After an absence if six years, Tata passenger vehicles are back with a bang in South Africa. The last model launched locally was the Bolt, which followed in the tracks of the more well-known Indica.
Kia launched an enhanced version of its Carnival, a versatile companion for families.
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If you are not taking care of your customer, your competitor will.
Bob Hooey
After an absence if six years, Tata passenger vehicles are back with a bang in South Africa. The last model launched locally was the Bolt, which followed in the tracks of the more well-known Indica.
Let us call it autopilot without a “pilot” in the driver’s seat and no (or very limited) ability to override the clever computers that are in charge of the commuting experience.
Mahindra South Africa has inaugurated a new, purpose-built Vehicle Assembly Facility at the Dube TradePort Special Economic Zone in KwaZulu-Natal.
