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Peter Lyon's column
An optimistic Nissan chief executive excuses the company's recent poor sales performance
If there’s one thing I’ve learned from living in this country of contradiction, it’s that events aren’t always what they seem. Here’s an example: ask any journalist in Japan how he or she views Nissan’s sales performance this past year, or the manufacturer’s future potential, and nearly all will agree that, like Sylvester Stallone in Rocky, the car maker has been slapped silly, and is down for the count with little chance of getting back on its feet.
But grab a securities analyst or two, who are fed basically the same information as us hacks but don’t dwell on the past like we tend to, and you’ll hear a completely different prediction. They prefer to look to the future, and what’s more, they see a promising one. Sure, rival Apollo Creed, in the form of Toyota’s non-stop body blows of hit model after hit model, forced Nissan, with its poor 2006 line-up, down into a crumpled heap on the canvas this year. But like a true fighter, it is in the process of clawing its way up on to its feet and getting back into the ring.
Or at least that’s what Nissan’s enigmatic chief executive Carlos Ghosn says. As he is one of the best speakers in the industry, when he talks everyone with an excuse to listen, learn or write about him turns up. He fills an auditorium just as Pavarotti fills an opera house – and he doesn’t disappoint. In his recent address to the country’s media, the motoring boss came straight out and admitted that in the first half of 2006, certain developments did not favour the company.
He’s right on that point. The firm only launched one new car during the period. As a result, sales are down, profits are falling and market share is dropping. The local media has been feeding off this situation, painting a picture of unending doom and gloom, with a significant proportion of press types in Japan who still, after six years, want to see Nissan’s hero fail. But in a similar way to Rocky, Ghosn keeps managing to fight back.
From his point of view, there’s only one way for things to go – and that’s up. My securities analyst buddies agree. Looking into the immediate future, all they can see are 10 successful new model launches scheduled to take place during the next six months, a major turnaround for the organisation. The funny thing is that these guys are right most of the time. Artfully switching the tone of his address to a positive, upbeat rhythm, Ghosn spoke of the forthcoming Sentra and Altima launches in the US, the new Skyline for Japan and the Qashqai crossover coming to Europe. The all-new GT-R supercar, which is due to launch in October and will be sold around the world, also got a special mention. Then came the finale. “Nowhere in the future will we have such a low point in our product cycle,” he said. “We will not only cancel out the first half losses, but we will generate record profits once again, making it seven years in a row!”
An ambitious claim? Apparently not. Nissan might have suffered a cut lip, a black eye and a knockdown in the first round, but in the second, a miraculous recovery will see the firm bounce off the ropes and charge right back into the fray with renewed strength. And it will have the clout to make it happen. Because if Ghosn says it’s going to, then it probably will.
Peter Lyon is Japan editor of Auto Express and writes for a number of influential titles worldwide
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| The local media has been feeding off this situation, painting a picture of unending doom and gloom, with a significant proportion of press types in Japan who still, after six years, want to see Nissan’s hero fail | |
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But grab a securities analyst or two, who are fed basically the same information as us hacks but don’t dwell on the past like we tend to, and you’ll hear a completely different prediction. They prefer to look to the future, and what’s more, they see a promising one. Sure, rival Apollo Creed, in the form of Toyota’s non-stop body blows of hit model after hit model, forced Nissan, with its poor 2006 line-up, down into a crumpled heap on the canvas this year. But like a true fighter, it is in the process of clawing its way up on to its feet and getting back into the ring.
Or at least that’s what Nissan’s enigmatic chief executive Carlos Ghosn says. As he is one of the best speakers in the industry, when he talks everyone with an excuse to listen, learn or write about him turns up. He fills an auditorium just as Pavarotti fills an opera house – and he doesn’t disappoint. In his recent address to the country’s media, the motoring boss came straight out and admitted that in the first half of 2006, certain developments did not favour the company.
He’s right on that point. The firm only launched one new car during the period. As a result, sales are down, profits are falling and market share is dropping. The local media has been feeding off this situation, painting a picture of unending doom and gloom, with a significant proportion of press types in Japan who still, after six years, want to see Nissan’s hero fail. But in a similar way to Rocky, Ghosn keeps managing to fight back.
From his point of view, there’s only one way for things to go – and that’s up. My securities analyst buddies agree. Looking into the immediate future, all they can see are 10 successful new model launches scheduled to take place during the next six months, a major turnaround for the organisation. The funny thing is that these guys are right most of the time. Artfully switching the tone of his address to a positive, upbeat rhythm, Ghosn spoke of the forthcoming Sentra and Altima launches in the US, the new Skyline for Japan and the Qashqai crossover coming to Europe. The all-new GT-R supercar, which is due to launch in October and will be sold around the world, also got a special mention. Then came the finale. “Nowhere in the future will we have such a low point in our product cycle,” he said. “We will not only cancel out the first half losses, but we will generate record profits once again, making it seven years in a row!”
An ambitious claim? Apparently not. Nissan might have suffered a cut lip, a black eye and a knockdown in the first round, but in the second, a miraculous recovery will see the firm bounce off the ropes and charge right back into the fray with renewed strength. And it will have the clout to make it happen. Because if Ghosn says it’s going to, then it probably will.
Peter Lyon is Japan editor of Auto Express and writes for a number of influential titles worldwide
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