Nissan China to reach 08 sales goal of 500,000 units

BEIJING -(Dow Jones) - Nissan Motor Co. (NSANY) said Friday it is "on the right track" to meet its target of selling 500,000 units in China this year.

"So far our volume is OK," Yasuaki Hashimoto, president of Nissan (China) Investment Co., said without providing any figures.

Nissan sold 458,000 vehicles in China last year.

Auto sales in China have slowed in recent months. In August, vehicle sales fell 6.34% from the same month a year earlier, marking the industry's first decline since early 2005.

Hashimoto was speaking on the sidelines of the launch of its EX35 sport-utility vehicle in China, which is sold under its luxury brand, Infiniti.

Two variants of the 3.5-liter EX35, priced at CNY627,000 and CNY647,000, are available in China, Infiniti said in a statement without stating estimated sales.

Infiniti entered the Chinese market in July 2007 and sold 1,500 units last year. The G35 sedan, FX series of SUVs and the M35 are also sold in China. The vehicles are made in Japan and imported to China.