October 24, 2019 / 9:38 AM / a month ago

Nissan explores sale of European plants amid falling sales - Bloomberg

Oct 24 (Reuters) - Nissan Motor Co Ltd is considering selling two of its European plants as the Japanese carmaker faces falling sales in the region and an industry shift towards electric cars, Bloomberg reported on Thursday, citing people familiar with the matter.

The carmaker is now reaching out to potential buyers for its factories in the UK and Spain, according to the report. (bloom.bg/2MGjklx)

Nissan did not immediately respond to a Reuters request for comment.

Nissan is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide, as it seeks to boost profits by getting smaller, Reuters reported on Wednesday citing two company sources with direct knowledge of the matter.

All markets with factories except China were being looked at for possible reductions in production capacity, one of the sources told Reuters on Wednesday. However, there were no plans to close an entire plant or withdraw completely from any country, the source added.

Reporting by Debayan Sinha in Bengaluru; Editing by Rashmi Aich

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