Effective April 1, Nissan has announced they will be pulling out of a few major auto shows in an effort to cushion the blow of the current financial crisis. Although the official numbers have yet to be reported, Nissan CEO Carlos Ghosn has predicted the company will suffer a net loss of $2.91 billion by the end of the fiscal year. The first loss posted during Ghosn’s 10-year reign at Nissan, his response to the staggering loss has been an extreme one obviously aimed at avoiding a similar predicament in 2009. In addition to approving the cut of 20,000 employees and reduction of production expenses by 20%, Ghosn also chose to slim the list of motor show appearances down to only the “major” four.
Surprinsingly, the 2010 NAIAS is not one of the four, which marks the second consecutive year that Nissan will be absent from the Detroit festivities. The four events Nissan will be making an appearance at, however, include the New York, Shanghai, Tokyo and Geneva auto shows.
Source: Auto News