Nissan Motor announced that it expects to record the first operating loss in 11 years due to the decline in car sales due to the outbreak of the Corona virus.
According to Reuters, the company said in a statement that it expects operating losses of about 45 billion yen ($ 419.7 million), down from 54 billion yen in operating profit, in previous company expectations in February.
The company expects to incur a net loss of 95 billion yen, compared to previous profit forecasts of 65 billion yen.
Nissan is headed for the worst financial performance since the 2008 global financial crisis, when it posted operating losses of 137.9 billion yen.
"The company continued to deteriorate mainly due to the Covid-19 pandemic," the company said in a statement, adding that it would delay the announcement of its annual financial results and a restructuring plan until May 28. The original appointment was in mid-May.
The company announced on Tuesday that global car sales fell 43 percent in March on an annual basis, resulting in the sale of 4.8 million units in the year to March in the worst sales performance since 2011.
