Nissan to Release 5 Models in Japan in FY 202

Tokyo, Nov. 26 (Jiji Press)--Nissan Motor Co. plans to launch about five car models in Japan in fiscal 2020, aiming to rev up its slumping business, informed sources have said. The fully remodeled Dayz minivehicle, put on sale last March, has been the only model that the Japanese automaker released in the domestic market in the past two years or so. Nissan's earnings have fallen in the aftermath of the scandal related to its former chairman, Carlos Ghosn, who has been indicted by Tokyo public prosecutors for a series of alleged financial misconduct. He was first arrested in November last year. Amid the confusion, the company has been unable to invest sufficiently in the development of new models for the domestic market, consequently lagging behind rival automakers. Nissan now also aims to rebuild its brand image by reviewing its vehicle lineup, the sources said. Nissan's domestic auto sales in the April-September first half of fiscal 2019 dropped 1.3 pct from a year before to 281,000 units. Sales of minivehicles, with engine displacements of up to 660 cc, were brisk, but those of larger vehicles tumbled because no new model has been released in the category for more than two years. The models to be launched in fiscal 2020 may include the Ariya electric vehicle, which was showcased at the Tokyo Motor Show 2019, held between late October and early November, and fully revamped versions of mainstay models, possibly including the Note subcompact, the sources said. In Japan and other major markets, more than five years have passed on average since existing Nissan models were released. The company aims to cut the period to about three and a half years by putting 20 new models on the global market by the end of fiscal 2022, the sources said. Nissan also plans to release models furnished with its "e-Power" hybrid technology in overseas markets in fiscal 2021 and later, the sources said. In April-September 2019, Nissan's consolidated operating profit plummeted 85 pct from a year before to 31.6 billion yen, the lowest level for the first-half in the past 20 years. Nissan will scale back discount sales in the United States, an important market where its performance has been poor, while taking restructuring steps such as shedding more than 12,500 jobs across the world, the sources said. The company is considering reducing the number of its vehicle models by more than 10 pct by the end of fiscal 2022 by removing unprofitable models from the lineup, according to the sources. END