Nissan Motor Company Coronavirus Financial Relief and New Car Incentives

Nissan is one of several automobile manufacturers caught in the devastating tidal wave of economic destruction brought on by the Coronavirus. While perhaps in the past Nissan Motor Company was less familiar to Americans as GM or Ford in name recognition, Nissan has evolved into an innovative company with a wide-ranging impact in the automobile manufacturing market both in Japan and here in the United States.

Nissan Motor Company Coronavirus Financial Relief and New Car Incentives

Though the world is collectively working together to ‘flatten the curve’, the peak of Coronavirus infections in the U.S. is believed to still be weeks away. A growing number of cities and states have already instituted critical restrictions on both personal interactions and business operations.

While efforts continue to dramatically slow the spread of COVID-19, the virus has already severely restricted commerce and all but shut down business for many companies. The pandemic has undertaken a dramatic shift in just the past 30 days. Prior to the Coronavirus outbreak, the auto industry was collectively in the midst of one of its best February sales months in recent history.

Nissan joins the growing list of automotive companies that seek to do their part in slowing the pandemic and helping to heal the sick, while simultaneously attempting to keep its employees working and their business operating. This is a summary of the Coronavirus financial relief efforts and new car incentives that Nissan has created in response to the COVID-19 crisis.

Nissan Motor Company Factory Closures - Find the best deals!

On March 20th, Nissan announced it was suspending production of its vehicles in the U.S. due to the Coronavirus pandemic. The pause in production was scheduled to last through April 6th, but recent extensions to the shelter-in-place order throughout much of the United States will likely keep factories idle until further notice.

Nissan made the decision in order to contribute to the efforts of containing the virus while also maintaining a priority on the safety of its employees. However, all areas of operation that are deemed business essential will continue operating while closely following CDC guidelines with enhanced safety measures. Nissan operates two plants in the U.S. located in Smyrna, Tennessee, and Canton, Mississippi. These two plants employ over 12,000 employees combined, most of which will be sidelined until business resumes around the nation following the Coronavirus pandemic.

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Nissan Motor Company Customer Relief Programs - Find the best deals!

Sudden business closures around the nation have resulted in the abrupt, unexpected layoffs of millions of Americans. This sudden loss of income puts recent car buyers in a precarious situation when it comes to making their monthly payments on time. In response to this crisis, Nissan Motor Company is helping to assist their customers who are affected by the Coronavirus pandemic by offering coronavirus car payment plans.

Purchasers or lessees that used the company’s in-house financing company, NMAC (Nissan Motor Acceptance Corporation), could be eligible for payment extensions and deferred payment plans. Nissan stated that these relief efforts would be reviewed and implemented on a case by case basis. Nissan also recommends purchasers or lessees who have financed through a different institution contact that company directly in order to discuss their assistance options.

Nissan Motor Company New Car Incentives - Find the best deals!

Though substantial efforts are being invested in providing relief to consumers around payment deferments and other sources of relief, Nissan is also offering generous incentives on new vehicle purchases as well.

Nissan is offering 90-day delayed payment options to new purchasers or lessees who finance with NMAC. In select regions, the company is also offering a zero down/zero financing option on the best selling 2019 Nissan Rogue Sport SUV and the 2020 Nissan Altima midsize sedan. Nissan advises consumers to reach out to their local dealer and schedule an appointment with the sales department to discuss options, and also confirm any modifications to dealership hours. Nissan is also available online for customers who wish to conduct business in the safety and comfort of their own homes during the COVID-19 outbreak.

Nissan Motor Company Economic Outlook and Sales Forecast - Find the best deals!

Like many of its contemporaries in the auto industry, Nissan Motor Company was anticipating one of its best first-quarter sales periods on record. But the onset of the Coronavirus in mid-March brought vehicle production to a shocking halt across the nation. As a result, J.D. Power predicts that Nissan will likely experience a 40% loss in sales this March compared to this time last year.

As a result of the unknown and uncertain future that awaits both businesses and working Americans, Nissan spokespeople have yet to comment thus far on the effects the crisis would have on vehicle sales in the U.S., and on the company’s sales projections for 2020.

It may be true that the best-case scenario strongly suggests a major shortfall in comparison to 2019 sales. However, there are some factors that may provide a ray of hope for both automakers and consumers. Vehicles are considered durable goods and they have historically demonstrated the ability to recoup lost sales resulting from short-term disruptions in the market. As a result, the auto industry may be one of the most adept industries when it comes to rebounding from the virus-related sales disruption. Of course, the extent and speed of the recovery will be directly influenced by the overall economic environment following the pandemic.

Notably, J.D.Power states that its 2020 outlook of 16.8 million U.S. light-vehicle sales - an outlook projected before the globe was ravaged by the Coronavirus - is no longer realistically attainable. J.D.Power expects that sales will likely fall in the range of 14 to 16 million units as a result of the fallout from COVID-19.