Nissan has slumped into the red for the first time in 11 years and has announced it will close auto plants in Spain and Indonesia.
Nissan has slumped into the red for the first time in 11 years and has announced it will close auto plants in Spain and Indonesia.

Nissan to shut car plants

Nissan has announced it will close auto plants in Spain and Indonesia, as it sinks into the red for the first time in 11 years, as the coronavirus pandemic sends global demand plunging and halts production.

Nissan's Chief Executive Makoto Uchida has told reporters production in Europe will be centred on the British plant in Sunderland, and the Indonesian operation will move to Thailand, as the Japanese automaker reduces global production by 20 per cent.

Nissan Motor Co reported on Thursday a 671.2 billion yen ($A9.4 billion) loss for the fiscal year ended in March, its first annual loss since getting slammed by aftermath of the financial crisis in the year ending in March 2009.

Yokohama-based Nissan had recorded a 319 billion yen profit the previous fiscal year through March 2019.

Nissan said its global vehicle production dropped 62 per cent in April to 150,388 vehicles from a year ago. Global vehicle sales slipped almost 42 per cent last month.

Its sales for the fiscal year ended in March sank almost 15 per cent to 9.9 trillion yen ($A138.6 billion).

"The future remains unclear and it is extremely hard to predict," Uchida said.

Originally published as Nissan to shut Indonesia, Spain car plants