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Nissan to Decide Investment for Almera Sedan in 2003 (Update3)
By Kae Inoue
Tokyo, Dec. 3 (Bloomberg) -- Nissan Motor Co. will decide whether to build a new version of its Almera sedan in the U.K. or elsewhere in Europe next year, based on fluctuations in the pound and euro, Chief Executive Officer Carlos Ghosn said.
``We like to earn what we've made, no more, no less,'' Ghosn told reporters in Tokyo. ``We would like some kind of stability'' in the currencies, he said.
Japan's No. 3 automaker, which owns the U.K.'s biggest car plant, suffers when the pound strengthens against the euro, making the country's exports less competitive. The pound fell 4.9 percent against the common European currency this year, making it more attractive for exporters from the country.
There's a 70 percent chance Nissan will build the Almera at its U.K. plant, in northeastern Sunderland, said Koji Endo, an analyst at Credit Suisse First Boston. Other options are factories in Spain and France, Endo said.
The automaker makes Primera cars, Pulsar/Almera sedans and March/Micra compact cars at the Sunderland plant.
Nissan shares fell 0.8 percent to 969 yen in Tokyo. The stock has risen about 39 percent so far this year and is the biggest gainer among Japanese automakers on the 56-member Topix Transportation Equipment Index.
The pound recently traded at 64 pence to the euro and has weakened 4.9 percent against the European currency this year.
Nissan Diesel
Ghosn also said recapitalizing Nissan Diesel Motor Co., the automaker's unprofitable truck unit, is ``not reasonable.''
Nissan Diesel reported a group net loss of 4.57 billion yen ($37 million) in the six months ended Sept. 30, compared with a 226 million yen profit a year earlier.
The truckmaker, 45 percent owned by Nissan and Renault, is reorganizing its business and increasing overseas sales as Japan's economic slump dents demand at home. Japan's truckmakers are struggling to maintain profit and reduce debt as commercial vehicle sales in the country fall to record lows.
``We are supporting Nissan Diesel by sending in good management,'' Ghosn said. Nissan Diesel appointed Iwao Nakamura from Nissan as its president in June this year.
Nissan will revive the Datsun brand eventually, Ghosn said without elaborating.
``Datsun is the most known name after Nissan,'' said Ghosn. ``We will use it in the future and we are still deciding when and how. Nissan will be using the Datsun brand to make the best use of the heritage.''
Ghosn said Nissan is sticking to its plan to release its own fuel-cell powered car next year, challenging rivals Toyota Motor Corp. and Honda Motor Co., which have already released their own low-pollution vehicles in Japan and the U.S.
By Kae Inoue
Tokyo, Dec. 3 (Bloomberg) -- Nissan Motor Co. will decide whether to build a new version of its Almera sedan in the U.K. or elsewhere in Europe next year, based on fluctuations in the pound and euro, Chief Executive Officer Carlos Ghosn said.
``We like to earn what we've made, no more, no less,'' Ghosn told reporters in Tokyo. ``We would like some kind of stability'' in the currencies, he said.
Japan's No. 3 automaker, which owns the U.K.'s biggest car plant, suffers when the pound strengthens against the euro, making the country's exports less competitive. The pound fell 4.9 percent against the common European currency this year, making it more attractive for exporters from the country.
There's a 70 percent chance Nissan will build the Almera at its U.K. plant, in northeastern Sunderland, said Koji Endo, an analyst at Credit Suisse First Boston. Other options are factories in Spain and France, Endo said.
The automaker makes Primera cars, Pulsar/Almera sedans and March/Micra compact cars at the Sunderland plant.
Nissan shares fell 0.8 percent to 969 yen in Tokyo. The stock has risen about 39 percent so far this year and is the biggest gainer among Japanese automakers on the 56-member Topix Transportation Equipment Index.
The pound recently traded at 64 pence to the euro and has weakened 4.9 percent against the European currency this year.
Nissan Diesel
Ghosn also said recapitalizing Nissan Diesel Motor Co., the automaker's unprofitable truck unit, is ``not reasonable.''
Nissan Diesel reported a group net loss of 4.57 billion yen ($37 million) in the six months ended Sept. 30, compared with a 226 million yen profit a year earlier.
The truckmaker, 45 percent owned by Nissan and Renault, is reorganizing its business and increasing overseas sales as Japan's economic slump dents demand at home. Japan's truckmakers are struggling to maintain profit and reduce debt as commercial vehicle sales in the country fall to record lows.
``We are supporting Nissan Diesel by sending in good management,'' Ghosn said. Nissan Diesel appointed Iwao Nakamura from Nissan as its president in June this year.
Nissan will revive the Datsun brand eventually, Ghosn said without elaborating.
``Datsun is the most known name after Nissan,'' said Ghosn. ``We will use it in the future and we are still deciding when and how. Nissan will be using the Datsun brand to make the best use of the heritage.''
Ghosn said Nissan is sticking to its plan to release its own fuel-cell powered car next year, challenging rivals Toyota Motor Corp. and Honda Motor Co., which have already released their own low-pollution vehicles in Japan and the U.S.
