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Investing.com -- Nissan (OTC:NSANY), Japan’s third-largest automaker, experienced nearly a 2% increase in its share value on Friday.
The rise comes in the wake of the company signaling a record loss due to a significant reduction in asset values and substantial restructuring fees. These costs are seen as a necessary step towards a much-needed recovery.
The automaker is currently striving to regain market share following a decline in sales in key markets such as the United States and China. Simultaneously, Nissan finds itself heavily exposed to U.S. import tariffs on foreign-made cars.
This is due to the U.S. being its largest market, and a significant number of vehicles sold there are manufactured in Japan or Mexico.
Ivan Espinosa, the new CEO who assumed leadership this month after Makoto Uchida was removed, intends to reduce vehicle development times to enhance competitiveness.
Espinosa has labeled Nissan as "slow" in rolling out new models, highlighting the extent to which the once-dominant automaker has struggled in recent years.
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