Nissan Raises China Production Target

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Nissan (NSANY) raised its production target for China, the world's largest auto market.

The Japanese automaker raised its production target to 1.2 million units in 2012, from a previous target of 1 million, BBC News reported. The company currently produces 670,000 units a year in China.

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Nissan is now the top-selling Japanese automaker in China, having overtaken Toyota. The company is bidding for a 10% market share and wants to sell 860,00 vehicles in China this year. In the eight months to August, it sold 660,000.

"Among the Japanese car makers, which represent 20% of total sales in China, Nissan holds the number one position," CEO Carlos Ghosn said.

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