Nissan delaying their mid-term sales target as demand has fallen

Nissan delaying their mid-term sales target as demand has fallen

Japan’s third largest automaker Nissan is likely to delay their target to sell 4.2 million vehicles globally in the business year to end-March 2009.

The company is suffering from lack of sales due to slowing demand. Market rumors suggest that the chief executive of Nissan and French partner Renault Carlos Ghosn would confirm an updated plan along with Nissan’s 2006/07 results on April 26.

Nissan’s performance has been disappointing as their sales have dropped below target in both of its biggest markets, the United States and Japan.

Nissan had already admitted earlier this year that they were going to miss its 2006-07 global sales target of 3.73 million vehicles. Ghosn had promised at that time that the company would draw up additional action plans to make sure it met three commitments under its medium-term business plan.