Nissan Raises China Production Target

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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