Coronavirus: Nissan shares fall 10pc after record loss warning
Nissan’s shares have plunged by 10% in Tokyo trading after warning that it would see a record annual loss.
Japan’s second largest carmaker said it expects a $4.5bn (£3.5bn) operating loss this year as the coronavirus hinders its turnaround efforts.
The worse-than-expected forecast came as the company predicted its sales will be the lowest in a decade, BBC reported.
It’s the latest indication of the extent of the damage caused by the pandemic to the global car industry.
“The market outlook remains uncertain and we may see a further deterioration in demand due to a possible second wave of the pandemic,” Nissan’s chief executive Makoto Uchida told investors.