Nissan Cuts Sales Target for China

Nissan Motor Co. now expects its sales volume in China will be flat at 1.22 million vehicles in the current fiscal year, The Nikkei reports. The carmaker previously expected volume to climb to 1.43 million units in the 12 months ending March 31.

Nissan blames China's cooling auto market. The China Assn. of Automobile Manufacturers says new-car sales rose 7% to 17 million vehicles in the first nine months of calendar 2014. But year-on-year volume advanced only 4% in August and less than 3% in September, according to CAAM.

Nissan held a 6% share of the Chinese market last year, surpassing any other Japanese carmaker. But the company's sales in the market have weakened, and they dropped 20% in September, according to The Nikkei.

Nissan isn't alone in adjusting its sales assumptions for China. Honda Motor Co. has reduced its target from 900,000 units to somewhat more than 800,000 for the current fiscal year. The Nikkei says Mazda Motor Corp. has trimmed its forecast to 225,000 vehicles from 230,000.