Nissan CEO: We Will Launch 5 New Models In China By 2006

BEIJING November 19, 2003; Dow Jones reported that Nissan Motor Co. said Wednesday it expects sales at its joint venture with China's Dongfeng Automobile Co. to reach 900,000 units by 2010.

That would be up from a sales target of 550,000 units in 2006, said Carlos Ghosn, president and CEO of Nissan Motor.

The US$2 billion JV was set up in July, giving the Japanese automobile company its first major access to the rapidly growing Chinese market.

Ghosn said in a prepared speech that Nissan expects to launch five more new models in China before 2006, in addition to one it introduced in July.

The Japanese carmaker had previously said its 50-50 JV with Dongfeng would, by 2006, launch a total of six car models in China and reach sales of 550,000 units.

The 2010 sales target is new.

Nissan had earlier said that the new models would include the Sunny compact car and the Teana luxury sedan.

Ghosn, who was speaking at a conference in Beijing, said passenger cars made under the JV will be branded Nissan, while trucks and other commercial vehicles will carry the Dongfeng brand.