Ghosn: Yen at competitive level

Kyodo

The yen’s exchange rate is returning to a level suitable for competition, Nissan Motor Co. CEO Carlos Ghosn said, adding that his company will continue domestic output of the Infiniti luxury models for export.

Ghosn was speaking to reporters Tuesday at the company’s factory in Tochigi Prefecture, where the automaker held an event to mark the start of mass production of the Q50, a new Infiniti sedan, for release this summer in the United States.

When the yen was stronger than the current prevailing rate of around 100 per dollar, Infiniti cars generated less than 1 percent of Nissan’s operating profit, according to Ghosn. He expressed hope that the currency loses further ground to around 110 to the dollar.