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- More Nissan Layoffs and Factory Closures After $4.5bn Loss
More Nissan Layoffs and Factory Closures After $4.5bn Loss
Andrew Evans
May 14, 2025
Hello, SpeedBiters! Here's what's on the menu today:
FIA president aims for even more control
Forza Horizon 5 offers console wars olive branch
Land Rover Defender generates decade-best JLR profits
Toyota takes aim at WEC “not on pure merit”
Old buses provide unique off-grid accommodation in Hawaii
...and more!
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INDUSTRY NEWS
Nissan experienced its most challenging financial year in over 20 years, concluding Fiscal Year 2024 with a staggering net loss of $4.5 billion, primarily attributed to rising costs and restructuring expenses while global sales changed little. The company is implementing a recovery strategy called “Re:Nissan” that includes significant workforce reductions and a focus on cost efficiency, aiming for improved profitability by 2026.
Jaguar Land Rover reported a pre-tax profit of £2.5 billion for the last fiscal year, marking a decade-high and a 15 percent increase compared to the previous year, alongside record sales of the Land Rover Defender. The company achieved £29 billion in revenue during the year while facing global economic challenges, including a significant tariff on imported vehicles, although a recent trade agreement is expected to alleviate some of the financial pressure on its British-made cars.
GAC is preparing to launch its Pickup 01 globally, with production set to begin in 2027, targeting markets such as Australia and Saudi Arabia. The concept features a distinctive design with advanced features like LED lighting and camera-based mirrors, while significant modifications to the interior are anticipated before its release.
The 2026 Mercedes-Maybach SL 680 Monogram Series, set to debut in the US later this year, combines sporty performance with opulent features, powered by a 4.0-liter biturbo engine generating 577 horsepower. Offered in two exclusive color schemes, this luxury convertible features unique design elements and a lavish interior, with European prices starting at approximately $290,000.
Alfa Romeo’s global head of marketing, Cristiano Fiorio, has indicated that a new premium sports car may be in the works, potentially following the upcoming releases of the Giulia and Stelvio models. While the brand has faced challenges in the sports car market, there is hope for a future coupe that could compete with established rivals like the BMW M4, although the company is currently focused on solidifying its core lineup before pursuing more ambitious projects.
Xiaomi's recent introduction of a carbon fiber hood for the SU7 Ultra has sparked dissatisfaction among owners, particularly as it follows a software update that significantly reduced the vehicle's power output. Despite the company's claims of enhanced cooling capabilities, independent evaluations revealed that the hood's air vents are largely decorative, leading over 300 customers to demand full refunds for what they perceive as a misleading upgrade.
Honda anticipates significant reductions in its operating profit due to U.S. tariffs, projecting a loss of approximately 650 billion yen (around $4.34 billion) for the current fiscal year, alongside a notable decline in net income and operating margins. Additionally, the company has decided to delay its electric vehicle manufacturing initiatives in Canada, citing a slowdown in the EV market that complicates future investment plans.
Eric Cantona has collaborated with Ford to create a unique version of the new Capri, celebrating their partnership with a design that features a nostalgic Signal Orange color and elements that pay homage to his football career. The interior has several personal touches, including references to his iconic moments on the pitch, while the vehicle is powered by an electric motor that maintains impressive performance metrics.
MOTORSPORT
FIA president Mohammed Ben Sulayem is reportedly suggesting amendments to the organization's regulations that may enhance his authority, as a confidential document outlining these changes has leaked out. The plans, which will be reviewed at the upcoming FIA General Assembly, include provisions that could limit presidential election candidates, and increase his influence over the FIA Senate's membership.
Toyota Gazoo Racing Europe’s technical director, David Floury, expressed concerns about the team's competitive standing after finishing fourth at the 6 Hours of Spa-Francorchamps, despite executing a strong race strategy. He suggested that the team is effectively engaged in a "virtual championship" against Porsche rather than the overall title, hinting that balance of performance regulations are limiting the team’s ability to compete on merit.
Christian Horner, the head of Red Bull Racing, has expressed concerns about the significant financial burden F1 teams will face in order to comply with the new weight limit of 724kg for the 2026 season. He emphasized that the reduction in weight, aimed at enhancing the agility of the cars, presents a substantial challenge, particularly given the increased weight of modern engines and safety features.
Adrian Newey, Aston Martin Racing's managing technical partner, has expressed his surprise at the potential for creativity within the upcoming 2026 Formula 1 regulations, which will introduce significant changes to both chassis and engine specifications. He anticipates that, similar to the 2022 rule changes, teams will explore diverse design philosophies, although the introduction of concurrent chassis and power unit regulations presents both excitement and uncertainty for the competitive landscape.
James Vowles, the team principal of Williams, has expressed his support for Carlos Sainz Sr.'s possible candidacy for the FIA presidency, highlighting the veteran rally champion's suitability for the role. Despite concerns about potential conflicts of interest due to his son's involvement in Formula 1, Vowles believes that Sainz Sr.'s extensive experience and detached approach to his son's career would mitigate any issues.
The CrowdStrike 24 Hours of Spa will feature an impressive 76-car lineup, the highest since the event transitioned to a GT-exclusive format, reflecting a notable increase in participation from the previous year. This year's competition includes a diverse array of entries across various classes, with ten different manufacturers on the grid including the debut of the Chevrolet Corvette Z06 GT3.R.
Nissan has introduced a new livery inspired by its video game, featuring a vibrant pink design with enhanced red accents, ahead of the Formula E Tokyo E-Prix. As the team leads both the drivers' and manufacturers' championships, this event presents a crucial opportunity for Oliver Rowland to extend his lead, while teammate Norman Nato seeks to improve his performance after a challenging start to the season.
Following a significant rain delay, practice for the Indy 500 commenced around 2:30 PM EST, allowing teams to approximately three hours of track time before a lightning strike curtailed the session early. Notable performances included Will Power achieving the fastest lap at 227.026 mph, with his teammates also showing strong results, while the Prema Racing duo struggled to keep pace, finishing at the bottom of the speed charts.
ODDITIES
A unique trend in the US sees individuals opting for minimalist living, exemplified by a pair of dilapidated buses for sale on a volcano in Hawaii, offered at a surprisingly low price. Located in the Kalapana Gardens area, these buses represent an unconventional housing option in a region where traditional homes are significantly more expensive, despite lacking basic utilities.
After years of rivalry among gaming platforms, the release of Forza Horizon 5 has fostered a sense of unity, with a unique Lamborghini Revuelto paint job that symbolizes cross-platform camaraderie now available. This downloadable livery features a blend of colors representing both PlayStation and Xbox, while the real-world equivalent of the design was also recently unveiled by Microsoft.
Two almost pristine GTO convertibles are currently available for sale through the same dealer, sporting their original specifications and in impressive condition. The vehicles available are a white model with a white hood and a grey vehicle with a black hood, priced at $51,950 and $43,950 respectively.
An employee at a Mercedes dealership in Georgia was reportedly taken by a customer during a loaner vehicle handover, leading to a 40-minute ordeal where he asked her inappropriate questions. The suspect, identified as Barinuaadum Bariyiga, has been charged with kidnapping, false imprisonment, and obstruction after the woman was safely returned to the dealership.
A Pontiac collector in Georgia picked up a Firebird Formula over a decade ago with the intent of restoring it, but after a period of dormancy the car is not available to buy at auction. The condition of the vehicle is unclear, though it will need extensive work as there is no interior present, and the winning bidder will need to trailer the Firebird from its current position.
The current auction for a 2023 Chevrolet Corvette Stingray has reached $56,000, with six days remaining, but the final price is expected to exceed $90,000 based on its recent history and features. This model, equipped with a powerful V8 engine and various performance enhancements, has low mileage and an accident-free record, though the seller suggests an oil change due to the completion of the break-in period.
A striking 1965 Mustang owned by Giulia Piazza was a star at the Italian Bike Fest event, with its owner picking up the vehicle last year to replace her daily-driven 2010 vehicle. Nicknamed “Miss Mary” after her late mother, Piazza drives the classic to shows with her grand-daughter and around the local streets of Veneto, bucking Italian trends towards smaller vehicles.
A rare Pontiac Trans Am Daytona Pace Car Edition in survivor specification recently changed hands on eBay for $35,000, with the one-of-2000 vehicle never having been modified or restored. In full working order, sporting just 18,000 miles on the original 301ci turbocharged engine, and with original features that even include the plastic cover on the radio, the car has strong collector appeal for any future sale.
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