Part 8/13:
One of Nissan’s most critical miscalculations was its stance on hybrids. The company had moved away from hybrid models, betting on EVs as the future and discontinuing popular hybrids like the Rogue Hybrid by 2020. This was a pivotal mistake. The global demand for hybrids surged—sales soared to over 4 million units in 2023 alone, with interest growing rapidly due to their efficiency and market appeal.
Conversely, Nissan’s absence in the hybrid market meant they missed out on the largest and fastest-growing segment, leading to plummeting profits—down 99% to just ¥995 million ($6.5 million). Cost-cutting measures ramped up, with thousands of layoffs, factory closures, and asset sales, including Nissan’s stake in Mitsubishi.