Nissan is facing critical financial and competitive challenges, with operating profits dropping 90% and net income falling 94% in the first half of fiscal year 2024 compared to the same period a year earlier. The automaker is cutting 9,000 jobs, slashing production by 20%, and shuffling executives to stabilize operations amid stiff competition from Chinese automakers and struggles in the U.S. CEO Makoto Uchida has taken a 50% pay cut, signaling the situation's urgency. Nissan highlighted its liquidity and investment in new technologies while positioning its six models under $30,000 as a key competitive strength. Analysts suggest a merger with rival Honda may offer Nissan its best shot at survival.
