Associated Press TOKYO -- Japan's Nissan Motor Co. launched a new mini wagon in Japan on Thursday in an effort to beef up its domestic vehicle lineup as the automaker pushes to return to solid overall sales growth.
Nissan, a newcomer to the domestic mini vehicle market, lost business to its rivals because of its insufficient lineup, Toshiyuki Shiga, Nissan Chief Operating Officer, said at a roundtable meeting with the media.
Nissan posted a profit decline last fiscal year for the first time in seven years as sales in the U.S. and Japan slumped.
"We'd like to stop our customers from moving" to rivals by adding the new Clipper Rio mini wagon, Shiga said.
Nissan, 44 percent owned by Renault SA of France, aims for annual sales of 4,000 vehicles of the car, the company's first mini wagon model.
Mitsubishi Motors Corp. will produce the Clipper Rio for Nissan, Japan's third-biggest auto maker by sales volume. Nissan consigns all of its mini vehicle production to Mitsubishi and Suzuki Motor Corp.
Sales of mini cars -- vehicles with engine capacities of 660 cubic centimeters or less -- reached a record 2.02 million in 2006 and are expected to remain near this level in 2007, according to the Japan Automobile Manufacturers Association.
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