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Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded the Japanese automaker's margins.

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TOKYO (Reuters) - Japan's Nissan Motor slashed its annual outlook on Thursday after deep discounting in the United States almost completely wiped out the automaker's first-quarter profit.

Often called a basic warranty or new-vehicle warranty, a bumper-to-bumper policy covers components like air conditioning, audio systems, vehicle sensors, fuel systems and major electrical components.

He brought a similar ruthlessness to Nissan, closing factories, cutting jobs and transforming the way it operated. As the chart below shows, it was an effective strategy. Operating profits soared ...

Nissan Motor Company has reported a near-total wipeout of its first-quarter profit, which has prompted a downward revision of its annual outlook as aggressive discounts in the United States have ...

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While global sales remained even year-on-year at 787,000 vehicles, the profit from those sales was hit by an increase in discounts and marketing costs. That’s as Nissan tried to ride out intense ...