Nissan reported a net loss of $4.5 billion for Fiscal Year 2024, with an 87.7 percent decrease in operating profit attributed to various factors.
Despite the losses, Nissan's sales were relatively stable globally, but the company is struggling with rising costs and mismatched revenue.
Nissan announced a recovery plan named RE: Nissan to improve profitability by cutting costs, reducing workforce by 20,000, and increasing manufacturing efficiency.
The company aims to achieve profitability by 2026 through cost-saving measures and leveraging partnerships in specific markets.