Nissan goes into reverse

NISSAN has put out its second profit warning in two months as it struggles with weak sales and the aftermath of the arrest of exboss Carlos Ghosn.

The Japanese car maker cut its guidance for the financial year that ended in March by 22pc to £2.2bn, down from £ 2.8bn. It expects sales of 5.5m vehicles and flat revenue.

Former Nissan boss Ghosn, 65, led a turnaround in the late 1990s and forged an alliance with Renault and Mitsubishi, but his arrest in November on financial misconduct charges – which he denies – has damaged sales in Japan.