The first order of business for Nissan’s new CEO is to put the struggling company into recovery mode. Drastic decisions were made from day one: slashing 20,000 jobs, closing seven factories, eliminating six platforms, reducing parts complexity by 70 percent, and halting the development of certain models. These are the main bullet points of a long list of cost-cutting measures. But how did the Japanese automaker end up here?
Speaking at the Financial Times’ Future of the Car Summit, Ivan Espinosa said the first issues emerged about a decade ago when Nissan set an optimistic goal of selling eight million vehicles annually. That’s a far cry from the latest figures published earlier this week. Deliveries stood at just 3.3 million in Japan’s fiscal year 2024, which started on April 1, 2024, and ended on March 31, 2025.
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