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.
For decades, buying a car has been as much about emotion as practicality. Shiny brochures, polished showroom floors and persuasive sales talk often overshadowed the cold, hard numbers of ownership. But today, where information is currency, consumers are no longer satisfied with glossy marketing – they want data, and they want it now.
According to a Reuters report, South Africa is engaged in discussions with Chinese automotive manufacturers to encourage local investment, with at least one company showing considerable interest in establishing production facilities in the country, a senior government official revealed on Wednesday.
Nissan says the latest wave of launches from the brand in South Africa supports Nissan’s long-standing commitment to the country, underpinned by more than 60 years of local presence.
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You can't build a reputation on what you are going to do.
Henry Ford
For decades, buying a car has been as much about emotion as practicality. Shiny brochures, polished showroom floors and persuasive sales talk often overshadowed the cold, hard numbers of ownership. But today, where information is currency, consumers are no longer satisfied with glossy marketing – they want data, and they want it now.
According to a Reuters report, South Africa is engaged in discussions with Chinese automotive manufacturers to encourage local investment, with at least one company showing considerable interest in establishing production facilities in the country, a senior government official revealed on Wednesday.
Europe’s automotive sector, once a global leader, is facing what McKinsey describes as “the largest transformation in the industry’s history”.
