Nissan, Daihatsu launch new compacts

Hoping to stimulate the auto market, two Japanese companies on Monday introduced new five-door compact models.

Nissan Motor Co. released the Cube, a 1.3-liter compact costing between 1.144 million yen and 1.148 million yen. With an initial sales goal of 8,000 units a month, Nissan hopes the Cube will help it increase its domestic market share from 20 percent to 25 percent by 2000.

"We'd like to increase our share this year by at least 1.5 percentage points," Nissan President Yoshikazu Hanawa said.

The nation's No. 2 automaker also announced a 36-month "Cube leasing program" by its affiliate Nissan Car Leasing Co. The program calls for a down payment of 198,000 yen and monthly payments of 4,800 yen, or monthly payments of 9,500 yen without a down payment.

Daihatsu Motor Co.'s new five-door compact, the Storia, comes equipped with a 1-liter engine and is priced between 898,000 yen and 1.423 million yen. Daihatsu's monthly sales target in the domestic market is 2,000 units. It plans to export the vehicle beginning in the spring.