Nissan sees U.S. market share gains in March

By Karey Wutkowski

NEW YORK (Reuters) - Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) posted U.S. sales in line with its March targets and expects to win a higher market share despite increasing concern about the economy, a senior executive said on Thursday.

"March is tracking amazingly well given some of the economic news," Al Castignetti, Nissan division manager for North America, told Reuters in an interview.

Speaking on the sidelines of the New York auto show, Castignetti also said Nissan expects to see U.S. market share gains in March and hopes to gain share for the calendar year.

"Any time there is an economic downturn ... we tend to fare pretty well in the industry," Castignetti said. "We are not as reliant on SUVs and trucks."

Nissan's U.S. sales for the first two months of the year were down 3 percent, compared to a 5 percent decline for the industry.

Castignetti said Nissan expects to hold fleet sales flat in 2008 compared with 2007 and does not expect an increase in retail sales. "We're obviously looking for market gains but we don't know if that will translate into sales gains," he said.

Nissan, 44-percent owned by France's Renault (RENA.PA: Quote, Profile, Research, Stock Buzz), posted a 4.5-percent gain in U.S. light vehicle sales in 2007, giving it a U.S. market share of almost 7 percent.

Nissan's sales gains came in a year when all three Detroit-based automakers suffered weaker sales, hit by a slumping housing market, credit market strains and higher gasoline prices.