Nissan cuts U.S. production amid declining sales
Businessmen Team
cars
26 November 2024
03:45 PM
Nissan Motor Company's shares dropped on Tuesday following reports that the struggling automaker plans to reduce production at its U.S. facilities. This comes as President-elect Donald Trump announced plans to impose tariffs on imports from Mexico and Canada, where the company maintains manufacturing operations.
Nissan plans to produce 100,000
fewer vehicles than the previous year at its Mississippi and Tennessee plants
in the fiscal year ending next March.
Nissan's stock has experienced a
significant downturn, falling approximately 30% year-to-date. Earlier this month, the company revealed
plans to eliminate 9,000 jobs and curtail production by 20%.
