Japanese car giant Nissan recorded a loss of around €1.8bn for the year to 31 March 2009. However, despite the huge deficit, this news is actually slightly better than forecast. The company is expected to remain in a loss making position for the rest of this year, but Nissan president and CEO Carlos Ghosn does see some signs of hope for the future. He said, "The global economic recession and financial crisis continue, but we are beginning to see some signs of improved access to credit.”

Nissan sold a total of 3.4 million vehicles worldwide in 2008, down 9.5% on 2007, with the biggest reduction in the USA where sales were down 19%. However, the picture is somewhat brighter for Nissan in Europe, where the company is actually recruiting staff for its Sunderland plant because of increased demand, partly due to scrappage schemes in some European countries. This has boosted demand for the Micra and the Note, while the Qashqai appears to have captured the motorists imagination and is selling well across Europe, especially in Ireland.