Carlos Ghosn - 2004 NAIAS Nissan Press Conference Speech

President, CEO Nissan Motor Co., Ltd. [Jan. 05, 04] Everything we touch, we shift. And everything we shift, we try to make better. “Shift” is not just a tagline. It is, in fact, a value that motivates us to stretch to deliver our very best. It manifests itself in working across functions, companies, borders and cultures.

There are no better examples of our “Shift” approach than the new Titan and the new Pathfinder Armada.

Attractive, competitive new models like these have been at the heart of our performance over the past four years, leading Nissan from a shaky past to a promising future. Last year, three of the seven finalists for North American Truck and Car of the Year were Nissans. This year, the Titan represented our brand as a Truck of the Year finalist. Great car companies have to deliver great products. Everything we have been delivering has been designed to offer our customers distinctive design, superior performance and undisputable value.

It’s a powerful formula and it’s one that’s working.

Amid turbulent economic and market conditions, Nissan is staying the course, making steady gains, building value, step by step. Each of the 10 new models we have launched globally this year has been a credible competitor. During the first half of this fiscal year, which began April 1, our sales were up 5.9% even as the total industry volumes declined in all the major markets. With three months remaining in our fiscal year, we are projecting our full-year sales to be up 10% from the prior year…increasing sales without significant incentives that could damage our profitability and our brand.

With sales on the rise, we are on track to deliver the key elements of our NISSAN 180 business plan completely. One million additional unit sales are expected, as planned. The 8% profit margin has already been exceeded and Nissan’s first-half 11.3% operating profit margin is, to date, the highest margin reported by any global automaker. Zero debt has been achieved, giving us the freedom to invest for our future.

In China, for example, our new joint venture with Dongfeng puts Nissan in every vehicle segment in the world’s fastest growing automotive market. Three years ago, we were practically absent in that market. This year we will sell 100,000 cars there. And in the next three years, we expect to more than double our car sales in China, not counting trucks. Our plans are bold, and we have specific action plans in place to assure that our results will match our ambitions.

In North America, the investments we’ve been making in Infiniti are enhancing our luxury brand. The FX45 is exceeding expectations, the G35 now has all-wheel-drive and the all-new QX56 should widen Infiniti’s appeal further. For the first time in the brand’s 14-year history, Infiniti sales will top 100,000 units in a single calendar year.

Our investment in our new Canton Plant is yielding dividends in the form of a steady stream of new products for North American customers. The Nissan Quest, Pathfinder Armada, and Titan King Cab and Crew Cab launched successfully and on time, and the QX56 launches this month – each launch strongly supported by our expanded engine plant in Decherd, Tennessee, which is now producing all the four-cylinder, V6 and V8 engines for U.S.-built Nissan and Infiniti vehicles.

For Nissan, this year’s 10 new global models include sedans, crossovers, minivans, sport utility vehicles and trucks. Today’s introductions strengthen the full range of trucks Nissan is offering on a global basis. With three all-new trucks in 2003 and three all-new trucks in 2004, Nissan has the freshest truck lineup in the industry.

I’m pleased to reveal our two newest models, the Nissan Frontier and the Nissan Pathfinder.

With 65 years of worldwide truck-making experience, Nissan practically invented the compact truck segment. Nissan trucks, 4x4s and sport utility vehicles are known around the world as well-built, hard-working trucks that are made to last.

Nearly 20 years ago, a pickup was the first product off the line at our Smyrna Plant. Here’s the latest generation to come from our award-winning plant.

The 2005 Nissan Frontier is bigger. It’s bolder. Like the Titan, the Frontier is a real truck, offering more power, off-road capability and utility.

For truck buyers who aren’t quite ready for the full-size version, the Frontier has all the innovation and strength of the Titan, yet in a more affordable, more manageable package. The Frontier bed has the same, innovative spray-in bedliner and Utili-Track system that was introduced with the Titan and Frontier’s interior has the same smart design that can be seen in the seats, storage spaces and access.

Frontier’s VQ engine has been reworked as a 4.0-liter specifically for truck and sport utility vehicle usage, with increased horsepower and torque. And it rides on the solid foundation of our new “F-Alpha” platform. The 2005 Nissan Frontier will go on sale later this year.

The first Nissan Pathfinder blazed the trail for sport-utility vehicles in this country and, like the Frontier, the Pathfinder enjoys a reputation for durable, reliable quality. The new Pathfinder is also bigger, bolder and better. It’s Nissan’s second three-row Pathfinder, designed for families who have an appetite for leisure or adventure in their compact SUV.

The Pathfinder shares the rugged new “F-Alpha” platform and reworked VQ engine, and its independent rear suspension has been adapted from the full-size Pathfinder Armada. The Pathfinder’s interior is stylish and roomier, with innovative features that active families are sure to appreciate. The Pathfinder has the flexibility of a minivan, captured in the form of a true sport-utility vehicle.

Production of the Pathfinder is moving from our Kyushu Plant in Japan to Smyrna, with the start of production to begin in the third quarter of this year. With the Pathfinder, the annual production capacity in Smyrna will increase 50,000 units to 550,000 vehicles a year.

Nissan is one of the few global automakers to offer a full range of trucks in all the major markets worldwide – from large commercial trucks to full-size to compacts. In North America, our 4x4 lineup is deep and wide, with Frontier, Pathfinder, Xterra, X-TRAIL, Pathfinder Armada, and crossovers such as Murano and the Infiniti FX45. These are bold expressions of the Nissan and Infiniti brands and more new models are on the way. You saw the new Infiniti QX56 yesterday. In April in New York we’ll show you the new Xterra and an all-new Infiniti sedan. The second half of this fiscal year is filled with important new models, both in terms of sales volume and profitability.

Nissan’s product offensive is accelerating. We are trying to compete in every single segment with nothing less than our very best.

We have the products. We have credible plans. We are embracing opportunities, prepared to handle whatever comes our way. We are building our future – and creating lasting value – one step at a time, one product at a time. We have a lot to offer today, and so much more promise yet to deliver.

You can continue to expect the best from Nissan.