Nissan bleeds cash as sales slump and expenses mount

TOKYO -- Nissan Motor's cash on hand is falling sharply, down 30% in six months in the automobile business, as sluggish sales -- especially in the U.S. and China -- push the company's free cash flow into negative territory.

"We have not been able to provide products that meet customer needs in a timely manner," said President Makoto Uchida at an earnings briefing on Nov. 7. "We feel a strong sense of responsibility."