Nissan cutting production of main U.S. models by 30%

NEW YORK -- Nissan Motor appears to be cutting production of its main North American models by around 30% due to lackluster sales, Nikkei has learned, jeopardizing its fiscal 2024 global sales target of 3.65 million vehicles.

Nissan had projected a 99% year-on-year drop in operating profit for the April-June quarter to 995 million yen ($6.52 million) and a 12% fall to 500 billion yen for the full year. The important U.S. market is eroding earnings quickly.