Nissan's CEO is laying out how it fights back against Chinese rivals after a second outlook cut in months. The second cut is the signal: turnaround talk only matters if it stops the earnings pressure.

What happened: Nissan cut its annual sales forecast for the second time in months, and its CEO outlined how the company plans to fight back against Chinese competitors. Why it matters: The repeated forecast cut reflects the pressure that intensifying competition in the world's largest auto market is putting on Nissan.

Nissan cut its annual sales forecast for the second time in months, and its CEO outlined how the company plans to fight back against Chinese competitors.

The repeated forecast cut reflects the pressure that intensifying competition in the world's largest auto market is putting on Nissan.