February 12, 2009
NISSAN ANNOUNCES 2009 SALES TARGET FOR CHINA
TOKYO (February 12, 2009) - Nissan Motor Co., Ltd. (Nissan) today announced a sales target of 570,000 units for China, including both passenger and light commercial vehicles (LCVs).
Nissan's sales in China for 2008 were 545,000 units, an increase of 19 percent versus 2007. In total, seven new models including the new Teana and other three models from Nissan, and other three models from Infiniti were launched, all contributors to the automaker's growth story in China.
Dongfeng Motor Co., Ltd. (DFL), Nissan's local partner in China, also reported a significant increase for 2008, selling 708,000 passenger vehicles, LCVs, and heavy- and medium-duty trucks and buses (H&MCVs), up 16 percent versus 2007. DFL expects continued growth in 2009 as it targets sales of 1 million vehicles in 2012.
"Last year was an excellent beginning for achieving our 2012 goals," said Kimiyasu Nakamura, president of DFL. "Working from there, we know 2009 will be a crucial year for us as we continue to expand our business for both our passenger and commercial vehicles."
DFL plans to introduce NT400 Cabstar, a new light duty truck, which will be built at the Xiangfan plant in China. The ZD30 diesel engine for this model will be manufactured at the all-new engine plant in Shiyan, Hubei Province and is the third Nissan engine built locally. The others are the HR and MD engines built at Huadu, Guangzhou.
Nissan and DFL plan to implement a dual-brand strategy for the LCV business. Nissan-branded LCVs will compete in the premium LCV market, while Dongfeng-branded vehicles will be marketed for the broader general LCV market in China.
Dongfeng Motor Co., Ltd. was established in 2003 as a result of a comprehensive, strategic partnership between Dongfeng Group and Nissan. DFL is the first joint venture in China to have a full line-up of passenger vehicles, LCVs and H&MCVs. Registered capital of the company is RMB16.7 billion (USD: 2.4 billion), the largest automotive joint venture investment in China, with Dongfeng and Nissan each holding a 50 percent stake.
Note: Amounts in dollars are translated for the convenience of the reader at the foreign exchange rate of RMB 1 per USD 0.146.