Norwegian doctor Gilbert, who had treated patients during the 1982 Israeli invasion of Beirut and later in Palestinian territories, speaks about his new mission
Dominique Thormann, Nissan's senior vice president for finance in North America, said the automaker was in the process of reviewing projections for industrywide sales amid a slump prompted by high gasoline prices and weak consumer confidence.
"I think you're seeing most analysts in the range of 14 (million to) 14.5 (million)," Thormann told Reuters in an interview. "We're not going to be that different."
U.S. light vehicle sales, excluding heavier work and delivery trucks, were 16.15 million in 2007. Analysts have said the industry needs to maintain volume at about that level to break even on vehicle sales.
Thormann spoke on the sidelines of an event to mark the opening of Nissan's new, $100-million U.S. headquarters building in Nashville, Tennessee.
"It's hard to tell where the bottom is," Thormann said when asked about the outlook for U.S. industrywide sales. "All of the things that have been driving us down are still in place. Fuel prices are still high. Credit is still tight."
Thormann said Nissan is seeing high demand for passenger cars, particularly those equipped with more efficient four-cylinder engines, and weak demand for trucks.
"It's a vehicle type and a powertrain story right now," he said. "There has been a change in consumer behavior."
Nissan has gained share in a declining U.S. market. Its first-half sales were down just 2.4 percent compared with a 10.1-percent slide for the market overall, according to sales data from AutoData Corp.
'Room for everybody' in small cars
In April, Nissan announced a product tie-up with privately held Chrysler LLC. Under the deal, Nissan would build a small car for Chrysler using the North American automaker's design in 2010 and Chrysler would build a new full-sized pickup truck for the Japanese automaker using Nissan's plans in 2011.
The boom in smaller cars in the months since has left some analysts questioning whether Nissan could equip Chrysler with a car for its line-up that would steal sales from Nissan's own Versa.
But Thormann said Nissan expects demand would be strong enough to support both models, since the Versa and the Chrysler variant would be very different in appearance.
"I think the segments are big enough," he said. "There's room for everybody."
He said Nissan remains open to finding a North American partner to parallel its equity-based alliance with France's Renault SA but said no such discussions are underway. "There is nothing on the table," he said.
Separately, Thormann said Nissan would have an all-new electric car to test with fleet operators in the United States beginning in 2010.
Nissan, NEC Corp and NEC Tokin Corp have announced plans to invest about $115 million over three years in a joint venture to make lithium-ion batteries for use in the next generation of electric cars.
But rather than try to convert an existing small car for initial electric vehicle tests in California, where state laws require sales of zero-emission cars in coming years, Nissan would design and build an all-new vehicle, Thormann said.
Thormann also said battery technology has progressed quickly. Some skeptics have questioned the durability of lithium-ion batteries and how quickly the auto industry would succeed in bringing down costs for the expensive components.
"The technology has progressed, absolutely," he said. "We would not be making these kind of statements if we didn't think that we can satisfy consumer expectations."
Norwegian doctor Gilbert, who had treated patients during the 1982 Israeli invasion of Beirut and later in Palestinian territories, speaks about his new mission
The Zadna Rating app will provide information about food establishments across 9,000 venues in the capital city
Competing at Japan's prestigious Taiheiyo Club in the Asia-Pacific Amateur Championship (AAC) has ignited the 17-year-old's determination for a breakthrough year ahead
Wait times can vary significantly based on the applicant's passport and the country from which they are applying
Lebanese Prime Minister Najib Mikati appealed to the international community to put pressure on Israel for a ceasefire
Generally, commission accounts for 2 per cent of the sale value and 5 per cent of the annual rental, excluding 5 per cent value-added tax
The Roads and Transport Authority offers multiple ways for motorists to pay their parking fees without having to do it physically
Year of war generates at least 42 million tonnes of rubble; UN estimate shows debris clearance might cost $1.2 billion; Piled up, rubble would fill Great Pyramid of Giza 11 times