Sunday, July 21

Fears for safety of Nissan jobs in UK after sales and profits tumble



Japanese firm Nissan has become the latest car manufacturing giant to publish gloomy sales figures amid concerns about its future in Britain.

Turnover at Nissan’s UK business, which is headquartered in Sunderland, fell by £93million last year to £6.3billion while its profits plunged 6.6 per cent to £133million.

The automotive behemoth, which employs nearly 8,000 people in the UK, also revealed its car production fell 6.2 per cent to 487,000 vehicles in the year to March 2018.

In an interview with The Mail on Sunday last month, Ford’s European boss Steven Armstrong said: If the industry can’t continue to operate competitively, we would have to think about where we continue and how we continue to invest.

The firm said it was facing numerous problems, including weakening sales in China and a fall in demand for diesel cars. It also referenced Brexit uncertainty.

Also on Thursday, Ford which has 13,000 workers in Britain revealed plans for a shake-up of its European business, which is likely to lead to thousands of job cuts, including in the UK. Ford has major factories in Bridgend and Essex.

Ford reported a $1billion loss in Europe last year, with $600million directly attributed to Brexit and the falling value of sterling following the 2016 referendum.