YOKOHAMA (Kyodo) Nissan Motor Co. began selling its all-new Fuga luxury sedan Thursday, offering Japanese consumers better fuel efficiency and new features in a bid to shore up sluggish demand for luxury cars amid the global economic slump.
Although the automaker is shooting for monthly sales of 800 units, it is ultimately hoping to chalk up domestic sales of around 11,000 units for the business year, Nissan Chief Operating Officer Toshiyuki Shiga said at Nissan headquarters in Yokohama.
The Fuga first hit the market in October 2004. The new version will be marketed in the United States and other countries as the Infiniti M next year, Nissan officials said.
Shiga said the new Fuga is also due for release elsewhere, including Russia, China and Europe, with global annual sales targeted at around about 40,000 units.
The sedan's price will range from ¥3,990,000 to ¥5,502,000 in Japan.
The automaker also said those who buy the 2.5-liter engine version will eligible for government tax breaks for fuel-efficient cars.
Shiga welcomed media reports saying the government might extend the tax breaks beyond March. Uncertainty over the program is "making it difficult to develop a sales outlook" for fiscal 2010, he said.