Renault-Nissan CEO pushes back China growth plan by one year

NEW YORK, March 27 Wed Mar 27, 2013 10:59am EDT

NEW YORK, March 27 (Reuters) - Political friction between China and Japan delayed by one year Nissan Motor Co's plan to get 10 percent market share in China, Renault-Nissan Chief Executive Carlos Ghosn told Reuters Insider on the sidelines of the New York auto show on Wednesday.

Ghosn said he is now giving his Nissan team until 2017 to hit its goal, instead of 2016. Nissan accounts for between 6.5 percent and 7 percent in China, the world's largest auto market.

"We practically lost one year, so I'm giving them one more year to reach the target," Ghosn later told Reuters in a separate interview.

A dispute between China and Japan over a chain of disputed islands in September led to violent protests and a boycott of Japanese-branded goods in China.

"Sales are normalizing," Ghosn told Reuters Insider. "We're getting back to where we were last year, which is good news."

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