After a brutal six months, Nissan is edging towards a financial precipice of the type that prompted its 1999 rescue by Renault.
The Japanese firm is reportedly scouting for an investment partner to bolster it financially.
Honda has been named by a source speaking to the Financial Times as a possible buyer for shares being sold by Renault.
Nissan has hit the financial skids during a six months in which it was forced to offer substantial discounts to move metal in its key markets of the US and China.