But U.S. market conditions will make a rebound challenging for Nissan, said Michelle Krebs, an executive analyst at Autotrader.
“This all comes at a very bad time because we are in the post-peak era of vehicle sales,” Krebs said. “New product does not stay fresh very long, and refreshing takes money. Nissan is stuck in a situation where they don’t have the money.
“I don’t see any sign it is working yet,” Krebs said.
Uchida conceded the complete revival plan is still a work in progress.
According to people familiar with the board’s thinking, some directors want Uchida to move faster to make dramatic cuts. That may include shuttering plants, slashing more jobs and possibly revamping operations at Datsun, the brand relaunched as an entry-level product line for emerging markets.
Globally, Nissan is awash in overcapacity, as former Chairman Carlos Ghosn pushed the carmaker to achieve higher volumes while building factories for an emerging market boom that never fully materialized.