The company carries nissan 1 Million Sales in China - Nissan Motor Co., the biggest Japanese carmaker by sales in China, said it will sell one million passenger vehicles a year for the first time in the country as demand rebounds in the world’s largest auto market.
A recovery in demand and marketing efforts are contributing to the rise in sales, and the automaker will report “very good” October sales, Jun Seki, Nissan’s China head, said in a brief interview at the Tokyo Motor Show on Wednesday. The company sold 952,400 passenger vehicles in China last year.
China’s auto sales are rebounding after the central government cut a purchase tax on small passenger vehicles from Oct. 1. Industry retail deliveries rose 11 percent in the first three weeks of the month from a year earlier, according to the China Passenger Car Association. Demand had expanded at the slowest pace in three years in the first nine months, weighed down by moderating economic growth and a summer stock-market rout that dented consumer confidence.
The tax cut, effective through the end of next year, is for purchases of vehicles with 1.6-liter engines or smaller, a category that covers about 70 percent of autos sold in China.
Separately, Honda Motor Co.’s China chief, Seiji Kuraishi, said he expects the carmaker to meet its sales target this year for 900,000 units in the country, driven by demand for sport utility vehicles. Competition remains intense and companies that face declines in sales may cut prices, he said.
The automaker will monitor the market carefully before taking the next step, Kuraishi said. Industrywide sales in China will expand at a slower pace next year, Honda’s Chairman Fumihiko Ike said.