Nissan sees U.S. market share gains in March

By Karey Wutkowski

NEW YORK (Reuters) - Nissan Motor Co (7201.T) 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), 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.

Analysts have grown increasingly concerned that U.S. auto sales could slip to their lowest level in more than a decade in 2008 as consumers pull back on spending, credit tightens and gas prices spike.

Sales of cars and light trucks slipped to 16.15 million vehicles in 2007, but analysts now see a risk that sales could fall as low as about 15 million vehicles this year.

Earlier this week, J.D. Power and Associates cut its 2008 light vehicle sales forecast by 5 percent to 14.95 million units from 15.7 million units citing the "turbulent" economic conditions.

Castignetti said Nissan is well-positioned in a weaker environment because of its lineup of sedans, which tend to fare better than more expensive and less fuel-efficient vehicles.

Nissan's redesigned 2009 Maxima sedan, a vehicle the automaker showed off at the New York auto show, is scheduled for delivery in June and features increased horsepower with the same level of fuel economy as the prior version.

Castignetti also expects the Rogue crossover wagon, the redesigned Murano crossover, and Nissan's upcoming GT-R supercar to perform well in terms of sales this year.

(Reporting by Karey Wutkowski, writing by Kevin Krolicki; Editing by Derek Caney)