Nissan heads for third consecutive loss on chip shortage

TOKYO -- Nissan Motor forecasts a net loss of 60 billion yen ($551 million) in the year ending March 2022, the company said Tuesday, as a global semiconductor shortage continues to drag on its operations.

That will mean a third consecutive year of losses for the company, although the forecast figure is substantially lower than in previous years, as Nissan breaks free from former Chairman Carlos Ghosn's strategy of aggressive expansion. The global chip crunch will result in Nissan producing 500,000 fewer vehicles.