Nissan remodels Cube compact for global roll-out

TOKYO, Nov 19 (Reuters) - Nissan Motor Co (7201.T) unveiled the third-generation Cube compact car remodelled for sale globally for the first time as smaller, fuel-efficient vehicles gain traction on the back of volatile energy prices.

First launched 10 years ago in Japan, the boxy, pudgy model became a surprise hit, selling nearly 1 million units to date and prompting Japan's No.3 carmaker to re-engineer the current version for a roll-out in the United States and elsewhere.

"We have big expectations for the Cube," Nissan Chief Operating Officer Toshiyuki Shiga said at the launch in Tokyo's swanky Roppongi Hills complex. "We had the U.S. market in mind from the beginning of the development stage -- even before small cars started to become popular."

The event in Tokyo will be followed by unveilings later on Wednesday both in London and at the Los Angeles Auto Show.

Nissan is aiming to sell about 50,000 units of the Cube annually in Japan, where sales start on Nov. 26. The car, with a 1.5-litre engine and the fuel-saving continuously variable transmission in Japan, starts at 1.45 million yen ($14,950).

The Cube will hit showrooms in North America next spring and in Europe and other markets in the fall. Pricing, specifications and sales targets will be announced then, Nissan said.

The model will be built at a Nissan factory south of Tokyo, although profits may come under pressure with the Japanese currency trading at a relatively strong 97 yen to the dollar.

"When we planned for production in Japan, we had envisaged a dollar rate of about 100 yen," Shiga said. He added that Nissan was not considering building the car outside Japan for the current generation. ($1=97.01 Yen) (Reporting by Chang-Ran Kim; Editing by Lincoln Feast)