Breaking News

U.S. Official Says JPMorgan, Four Other Banks Hit By Hackers
Tweet TWEET

Nissan Sees Leaf Sales Doubling as Factory Begins Production

Nissan Motor Co. (7201), Japan’s second- largest carmaker, will overcome a slowdown in deliveries of its all-electric Leaf vehicle, doubling U.S. sales to 20,000 during its current fiscal year, the vice chairman of its U.S. unit said.

A new plant in Smyrna, Tennessee, will be ready to make the cars in December, helping boost supply before the fiscal year ends in March, Nissan’s Bill Krueger said in an interview yesterday in Los Cabos, Mexico, where he was visiting for the B-20 business summit. The automaker also is expanding sales nationally after beginning in seven states, he said.

Leaf sales have dropped the past two months, trailing General Motors Co. (GM)’s rechargeable Chevrolet Volt and Toyota Motor Corp. (7203)’s plug-in Prius in May. Volt deliveries more than tripled to 1,680 units in May, while Leaf sales fell 55 percent to 510. The Leaf is made in a single plant in Japan.

“We’ve had to fulfill demand from one plant globally,” Krueger said. “Once we localize it in December, the second half of the fiscal year is when we’ll see most of the supply, demand be available.”

Japan’s three largest automakers are producing vehicles in North America at a rate indicating each will set records this year.

Nissan made 1.18 million in the U.S. and Mexico last year, its highest volume to date, and may make as many as 1.35 million at the current rate.

To contact the reporters on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net; Jose Enrique Arrioja in Mexico City at jarrioja@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.