October 24, 2019 / 9:40 AM / 22 days ago

Nissan explores sale of European plants amid falling sales: Bloomberg

FILE PHOTO: A badge is seen on the new Juke car at Nissan's car plant in Sunderland Britain, October 10, 2019. REUTERS/Phil Noble

(Reuters) - Nissan Motor Co Ltd (7201.T) is considering selling two of its European plants as the Japanese carmaker faces falling sales in the region and an industry shift toward electric cars, Bloomberg reported on Thursday.

The carmaker is now reaching out to potential buyers for its factories in the UK and Spain, the report said, citing people familiar with the matter. (bloom.bg/2MGjklx)

“At this time, we have no plans to sell those plants in Europe,” the company said in an email statement.

Nissan is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide, as it seeks to boost profits by getting smaller, Reuters reported on Wednesday citing two company sources with direct knowledge of the matter.

All markets with factories except China were being looked at for possible reductions in production capacity, one of the sources told Reuters on Wednesday. However, there were no plans to close an entire plant or withdraw completely from any country, the source added.

Reporting by Debayan Sinha and Ann Maria Shibu in Bengaluru; Editing by Rashmi Aich

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