Nissan Turnaround on Track Despite Headwinds; Stock Is Still Undervalued

Nissan is part of the Renault-Nissan-Mitsubishi Alliance. The firm is 43.4% owned by Renault, while Nissan owns 15% of Renault. Also, Nissan holds a controlling 34% stake in Mitsubishi Motors. Nissan's cross-ownership with Renault had been viewed as a rare success, with few international automotive companies replicating the alliance. However, discontent among leadership between Nissan and Renault became evident with the dismissal of Carlos Ghosn on allegations of misconduct in November 2018. Despite the opportunity for economies of scale in the alliance, Nissan's recent performance has been dismal but improving.