Nissan's profits wiped out by deep US discounts; shares plunge 7%

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Nissan's profits wiped out by deep US discounts; shares plunge 7% - Business Standard

Quick Summary:

Nissan said US sales were hurt by an ageing portfolio and a market shift to hybrid vehicles.

It plans to bolster sales by offering new and refreshed models such as the Armada and Murano SUVs in the second half of the financial year.

Investors now have to worry about Nissan's prospects in the United States, a fresh concern for an automaker already fighting to turn around its fortunes in another critical market, China.