Nissan hails fast recovery in sales

Nissan, like other Japanese automakers, had delayed providing this year’s financial forecasts due to uncertainty over when parts supplies would fully recover after the March 11 earthquake in Japan’s northeast.

While the industry as a whole has restored output levels more quickly than initially expected, Nissan’s projections are set to outshine Toyota and Honda, which have forecast a decline in car sales for the current financial year to March 2012.

Mr Ghosn said, that the guidance could surprise market wat-chers.

“Today we are very near normal production,” he added.

“We have some restrictions on production but we are approaching normal levels of production and two months ago we never would have thought we would be approaching normal levels.”

Before the March 11 earthquake disrupted output, Japan’s second-biggest automaker had been on a fast track for growth, mainly through its aggressive drive into emerging markets such as China, Russia and India.

Mr Ghosn said Nissan would also unveil new steps in the coming weeks to accelerate growth in the Brazilian market, where it is currently a bit player.

Continued industry-beating expansion in developing markets is expected to figure largely in a new, six-year business plan that Mr Ghosn is scheduled to unveil on June 27.