The international car industry has been upended by the coronavirus pandemic, with production plants closed around the world and car sales halted during lockdowns.
Now carmakers are looking to increase competitiveness and profitability in a fast-changing world, with the shift to greener technology another big hurdle the sector is facing.
Last week, Japanese carmaker Nissan revealed a net loss of 671.2 billion yen ($6.17 billion) in the fiscal year 2019, its first annual loss in more than a decade. On the same day, it unveiled a four-year plan involving production cuts and reducing the number of models it produces from 69 to fewer than 55 models.
“The company will … reduce fixed costs…