Ghosn Says Nissan on the Road to Recovery

Washington DC April 27, 2007; The AIADA newsletter reported that Nissan Motor Co. chief executive Carlos Ghosn told the Detroit Free Press Thursday that he would get the Japanese automaker back on track as Nissan reported its first annual profit decline in seven years.

Nissan's net income fell $4 billion for the fiscal year 2006, which ended March 31. Global vehicle sales fell 2.4% to 3.5 million vehicles. U.S. sales fell 4% to 1 million vehicles for the year.

Ghosn, who joined Nissan in 1999 when the company was on the brink of bankruptcy, called the past year a "bump in the road." Nissan has taken actions to cut losses.

Earlier this year, Nissan announced that 775 workers at its Tennessee plant had taken buyout packages. Nissan projected it would increase profits slightly in 2007 to 480 billion yen, or $4 billion.

The company plans to expand in the high-growth markets of Brazil, Russia, India and China; spend more on research and development; and establish