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Zhengzhou Nissan cuts '08 sales goal to 50,000 units

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Shanghai, October 9, 2008 - ( Zhengzhou Nissan Co., Ltd. (ZNA) plans to trim its 2008 sales target to around 50,000 vehicles because of sales downturn in oversea markets, the Jinghua newspaper reported on Thursday.

"ZNA had earlier set its sales goal for 2008 at 60,000 units but now this volume is impossible to reach," said company chairman Zhu Fushou, adding that the company has hit snags in its expansion efforts in oversea markets.

The report said ZNA has delayed its first overseas plant in Angora as a result of unspecific reasons. What's more, ZNA's initial plan to export its vehicles through Nissan's global LCV (light commercial vehicles) sales network hasn't progressed smoothly due to Nissan's high-level management regulations.

In another development, ZNA held a ground breaking ceremony for its light commercial vehicle (LCV) plant in Zhengzhou, Henan province, which is expected to begin operations by late 2010.

According to Nissan, the facility will have an annual output of more than 120,000 units. This new facility will be ZNA's second LCV plant. With this new capacity, the total capacity of ZNA plants will reach about 200,000 units per year by 2010.

Dongfeng Motor Co., Ltd. (DFL), ZNA's parent company, has two brand strategies in the LCV operation. The Nissan brand serves the premium LCV segment, while Dongfeng-branded vehicles are marketed in the more competitive automotive segment.

DFL will launch more than five new LCV models and increase the number of dealerships to 630 by 2012.

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