Wednesday, 27th October 2010
In Business In Japan,
Nissan launches hybrid
Japanese car maker Nissan has revealed its first hybrid vehicle.
The Fuga is set to be launched in Japan at the start of November and will make use of combined electric-petrol power.
However, market experts believe the strong yen could undermine global sales for many Japanese auto companies
Nissan's chief operating officer Toshiyuki Shiga confirmed the impact of the yen could lower profits for the country's third largest car maker.
He added: "We can't adequately express our concern about the sharp yen rise on our earnings by simply saying we are worried about it. The company is now working with a sense of crisis."
Nissan is set to reduce exports and increase imports in the short-term as well as looking to eventually move production away from Japan.
The Fuga is expected to go on sale in Japan on November 2nd, with prices ranging from 5,775,000 yen to 6,300,000 yen (£45,000 to £49,200) and its average fuel consumption is estimated to be 45 mpg.
Written by Susan Ballion.
Related news stories:
Nissan to raise prices (1st September 2008)
Nissan wants to put self-driving cars on Japan's roads by 2016 (9th April 2015)
Nissan vice chairman: 'electric vehicle not viable replacement' (5th February 2013)
Nissan and Mitsubishi join forces to produce minicar (11th June 2013)
Nissan to increase production (21st September 2010)