NISSAN Motor Co, Japan's third-largest car maker, plans to sell 300,000 cars in China this year, after introducing its Infiniti luxury brand to gain from the growing number of wealthy Chinese people.
"All auto makers are seeking opportunities to expand in China," Yukihisa Kayashima, president of Nissan (China) Investment Co, said in Shanghai yesterday.
The company may consider adding a production plant with local partner Dongfeng Motor Group Co to expand capacity, he told Bloomberg News.
Sales of the Infiniti G35 sedan started in China on July 1 at prices between 448,000 yuan (US$59,000) and 478,000 yuan. The FX35 sport-utility vehicle is priced from 638,000 yuan to 678,000 yuan, while the FX45 SUV costs 808,000 yuan.
The fastest economic growth of any major country has created more than 300,000 millionaires in US dollar terms in China.
Nissan has followed Toyota Motor Corp and Honda Motor Co in bringing its top brand to a market where luxury car sales rose twice as quickly as the overall car market in 2006, according to the China Association of Automobile Manufacturers.
Nissan intends to add three more Infiniti models to the G35 and FX series by the end of 2008, said Kayashima.
The company plans to open 10 Infiniti dealerships in Chinese cities including Beijing and Shanghai this year, with, the number growing to 15 by the end of next year.
Nissan sold 63,796 Infiniti cars in North America in the first half of this year, after global sales of about 150,000 in 2006.
Sales of locally made luxury cars priced from 300,000 yuan (US$39,450) rose at twice the pace of the overall car market in 2006, to 160,000 units, according to the association. Sales of luxury cars are expected to rise 20 percent this year.