Nissan to beat forecast

• Source: Global Times
• [08:47 September 17 2009]
• Comments

Nissan Motor, the third largest Japanese carmaker, said Wednesday that the company's sales in China this year will outperform forecasts as Chinese government's stimulus measures triggered demand.

Nissan revised its annual sales target by 100,000 vehicles to 670,000.

Tax cuts and government subsidies have benefited automakers, and car sales in China, the biggest auto market in Asia, jumped a record 90 percent last month. The automaker predicted a 170 billion yen ($1.9 billion) loss for the fiscal year that ended March 31 after the global recession hit auto demand in Japan, Europe and the US.

China has halved the tax on vehicles with engines of 1.6 liters or below and offered subsidies in rural areas.

Global Times/Agencies