Nissan CEO Postpones China Growth by One Year image

Due to the political tension between China and Japan, Nissan CEO Carlos Ghosn decided to postpone by one year his plan to get 10% market share in China.

Ghosn, present at the New York International Auto Show, said that his team has to hit this target by 2017, instead of 2016. Currently, Nissan has between 6.5% and 7% market share in China and is the biggest Japanese automaker in what is considered the largest auto market in the world. Last year, at the end of the second quarter, when the tensions between Japan and China arose, Nissan said it has a share in China of 7.6%.

“We practically lost one year, so I’m giving them one more year to reach the target … and hoping for the relationship between Japan and China to get better and better,” Ghosn later told Reuters in a separate interview. “Sales are normalizing. We’re getting back to where we were last year, which is good news.”

Nissan said that its sales are getting back on the track in China faster compared with its rivals Toyota and Honda. What concerns the plan to build a new plant in China, Ghosn said that the company waits for the Chinese government approval.

“I can’t do more than this,” he said of the wait. “The project is ready, everything is ready, our partners are ready. I think it would be fair to say something is going to happen before the end of this year.”