Nissan's China JV raises 2009 sales target

Oct. 6, 2009 (China Knowledge) - Dongfeng Motor Co, a 50:50 joint venture between China's Dongfeng Motor Group Co<0489> and Japan's Nissan Motor Co, raises this year's sales target to 500,00 vehicles from the original 388,000 units, according to Dongfeng Motor President Kimiyasu Nakamura, sources reported.

Kimiyasu said the Chinese government's tax-cut policy has successfully boosted the country's demand for smaller cars, and the company is likely to reach its initial target in October.

In the first eight months of the year, Dongfeng Motor sold 320,353 vehicles.

In April, Nissan said it planned to release 15 new models, including ten passenger cars and five light commercial vehicles, in China by 2012, more than in any other market.

China's vehicles sales in September will definitely exceed 1.2 million units, reaching around 1.25 million units, said Xu Changming, director of the Department of Information Resource Development under the State Information Center.

Full-year sales may hit 12.6 million units or even surpass 13 million units in 2009, added Xu.