Nissan Wants to Make More of Its Cars Stateside

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Nissan Rogue

On the heels of what proved to be a very strong month for the Nissan (NSANY.PK) brand in the United States, the company has revealed that it is planning a production ramp to build more of its cars here in the country. Fred Diaz, Nissan’s vice president in charge of sales and marketing for the United States, said that Nissan is aiming for a goal of 85 percent local manufacturing rate. The company has been building cars in America for more than 30 years now.

“Any issues of us taking advantage of the value of the yen, we want to dispel that,” Diaz said in a speech to the Automotive Press Association at the Detroit Athletic Club, per The Detroit News. Diaz is referring to an advantage that Japanese manufacturers have obtained as the yen’s value falls against the dollar, much to the chagrin of local automakers, who are finding it hard to keep up with the ability to lower prices on their vehicles as a result.

During the recession, Nissan took it as an opportunity to begin moving more of its production across the Pacific. “While a lot of people retrenched, instead, we leaned into it and we continued investing and in fact made over $5 billion in investments, bringing a lot of production from Japan to the United States and to Mexico,” he said.

He also noted that Nissan has added more than 8,000 new jobs in the United States over the past five years. “We’ve increased production by over 22 percent recently and also increased our exports to other countries outside the United States by 100,000 units,” The Detroit News quoted him as saying.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business