Nissan CEO holds to U.S. industry forecast
BEIJING (Reuters) - Nissan Motor Co. (7201.T) chief executive Carlos Ghosn said on Sunday that he was not revising down his forecast for 2008 U.S. industry vehicle sales of 15.5 million units.
"I don't believe it will be below this," Ghosn told reporters on the sidelines of the Beijing Auto Show.
"The economy in the United States is adjusting very quickly."
Recent industry forecasts have projected the U.S. total industry volume might fall to as low as 14.5 million units this year due to fears of a recession.
Nissan, like the rest of the industry, is looking to make up for lacklustre sales in mature markets with strong growth in China and other emerging markets.
After beating the industry's 22 percent sales expansion in China with a 26 percent rise last year, Japan's third-biggest car maker aims to exceed the industry's performance again in 2008, Nissan executive vice president Carlos Tavares said in a separate interview.
Nissan sold 458,000 passenger cars and light commercial vehicles in 2007 in China.
Nissan is due to launch four new models in China this year, including the second-generation Teana sedan, which made its global debut at the Beijing Auto Show on Sunday.
Nissan has a comprehensive 50/50 partnership with Dongfeng Motor Group in China, which produces passenger cars and commercial vehicles. Conspicuously absent from that alliance is Nissan, 44 percent owner Renault, and Ghosn, who also heads the French company, said it was a question of when not whether Renault would enter China.
"We need to have the right products at the right time," he said.
While he admitted there were disadvantages to coming late to the market as others build brand loyalty among Chinese buyers, Ghosn said that with innovative and attractive products, Renault could turn the tables quickly.
"Except for one brand, you could say that everyone was late to China," Ghosn said, referring to Volkswagen (VOWG.DE) entering China decades ahead of the rest.
Nissan now ranks 6th with 5.3 percent of the China passenger car market after entering in 2003.
(Editing by Ken Wills)
