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Nissan expects another net loss of over $6bn in FY2020

Automaker sees red for 2nd straight year as coronavirus hammers slumping sales

Nissan sold 4.93 million cars in the latest fiscal year, down 11% from the previous year. (Photo by Kosuke Imamura)

TOKYO -- Nissan Motor expects a net loss of 670 billion yen ($6.4 billion) this fiscal year, the Japanese automaker said on Tuesday, following its massive 671 billion yen net loss in 2019, which marked the worst net loss in 20 years.

It will also see its biggest-ever operating loss of 470 billion yen ($4.4 billion) as the company remains plagued by plunging sales amid uncertainty over the effects of the coronavirus pandemic. In fiscal 2019, Nissan posted an operating loss of 40 billion yen.

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