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NISSAN plans a new model blitz in a bid to turn around flagging demand in the world's biggest car market, the company said this morning.

While sales in Europe have been driven by demand for the Qashqai crossover, which is made in Sunderland, Nissan has been hit hard by a sharp fall in demand for light trucks such as the Titan pickup in the United States, forcing it to reduce production at two factories.

Boss Carlos Ghosn unveiled a five year plan to get the company back in the industry fast lane.

Nissan will introduce an all-electric vehicle in the United States and Japan in 2010 and then mass-market the vehicles to consumers globally in 2012.

The group is aiming for five percent revenue growth on average over five years, supported by the planned launch of 60 all-new models.

Production of the Micra is tipped to end in 2010. In the short term the blow will be soften by demand for the Qashqai but the North-East factory will face a huge fight to win new models from cheaper plants in Eastern Europe.

For the business year to March 31, 2009, Nissan forecast operating profit to fall to 550 billion yen, versus expectations of 652 billion yen.

7:51am Tuesday 13th May 2008

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