Carlos Ghosn has once again made headlines with bold remarks aimed at Nissan, the company he formerly led. In a characteristically blunt tone, he stated that the automaker is on life support, arguing that it has lost its appeal and become, in his view, a dull and average brand. More than six years after his dramatic escape from Japan to Lebanon, Ghosn continues to speak out, firmly expressing his perspective on the decline of Japan’s third-largest carmaker.
According to Ghosn, Nissan now faces a real threat of bankruptcy.
A Shattered Alliance and Leadership Paralysis
Ghosn criticized the dismantling of the once-thriving Renault-Nissan alliance, which he said has been reduced to a “weak and insignificant” partnership. He pointed to the dilution of cross-ownership—Renault and Nissan now hold only 10% in each other, down from 15%—as a symptom of deeper fractures. Renault’s plan to buy out Nissan’s majority stake in its India business, he said, underscores the alliance’s disintegration and the leadership’s sluggish decision-making.
He also touched on the failed merger talks with Honda, branding the attempt as a desperate effort by Nissan to secure financial rescue. Ghosn alleged that Honda had no intention of forming a true partnership but instead aimed to dominate the deal via a share swap, effectively turning Nissan into a junior partner. The talks collapsed after just a few months.
Financial Decline and Shrinking Market Share
Ghosn backed his claims with hard numbers. He cited Nissan’s operating margin plummeting to a mere 0.5%, with profits plunging by 90% to just 32.9 billion yen in the first half of the fiscal year. Sales forecasts paint an even bleaker picture: the company expects to move only 3.4 million vehicles annually—down sharply from 5.7 million units in 2017 when Ghosn was still steering the ship. These figures, he warned, show a company in panic mode, scrambling for funds to stay afloat.
In a revealing interview, Ghosn went as far as to predict Nissan’s collapse unless a visionary investor steps in to provide both capital and strategic direction. He dismissed the Honda merger as an unsuitable fix, arguing that the two companies are too similar in culture and technology to generate real synergy. Instead, he emphasized the growing threat posed by Chinese electric vehicle makers, whose rapid rise has left Nissan lagging behind and directionless. Ghosn claims that since his ouster in 2018, the company has lost over $50 billion.
Personal Stakes and a Company in Crisis
Ghosn’s criticisms are inseparable from his personal saga. Still facing international warrants over allegations of financial misconduct and embezzlement, his 2019 escape—allegedly hidden inside a music case—turned him into a national figure in Lebanon and a global curiosity. Today, from his residence in Beirut, he asserts that Nissan’s core issue is a profound erosion of trust, both internally and externally, and he accuses its leadership of lacking any credible roadmap for recovery.
Looking Ahead
While Ghosn’s words might be seen by some as a personal vendetta, the figures and rising unease within Nissan’s ranks suggest he may be raising valid alarms. The company now stands at a fork in the road: its “Transformation 2030” strategy aims to revitalize its electric vehicle lineup, but that ambition may be undermined by a severe cash crunch and declining investor confidence. Whether Nissan will reclaim its footing or continue to stumble remains to be seen. One thing is certain—Carlos Ghosn won’t stay silent as the drama unfolds.
