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Nissan lowers sales forecasts for Japan and Europe

Japanese automaker Nissan Motor Co lowered its sales forecasts for Japan and Europe for next year yesterday but kept its global outlook unchanged because of expected better results in the US and Chinese markets.

Under the company's business plan, Nissan hopes to lift global annual sales to 3.6 million by September next year from 2.6 million in the fiscal year ended March 2002.

By region, it aims to boost US sales by 360,000 vehicles a year, domestic sales by 220,000 vehicles and European sales by 70,000 vehicles. Initially Nissan had expected to boost sales by 300,000 vehicles a year in both the US and Japan, and European sales by 100,000.

It also expects to boost sales in other regions by 350,000 vehicles, up from the initial 300,000, largely on better-than-expected results in China's growing auto market.

The numbers were announced by Nissan Chief Executive Carlos Ghosn at an event in Yokohama, a port city south of Tokyo, where six models for the Japanese market were unveiled.

"All our energy is to achieve the 1 million," he told reporters, referring to the company target for increased sales.

Ghosn said Japan sales were likely to fall short of the original target because of its sluggish auto market.

Japan has been in a long slowdown, and the economy has shown signs of an upturn only recently.
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