PARIS -- Nissan will cruise past its profitability and debt reduction targets and should comfortably meet an aim to sell an extra million cars annually in three years, chief Carlos Ghosn said.
Nissan Chief Executive and President Ghosn, a turnaround champion credited with hauling Nissan back from the brink, told France's Le Figaro newspaper that the firm would have slashed its debt to 600 million euros ($638 million) by the end of March, meaning it would meet an aim to wipe out all debt in three years ahead of time.
He added that Nissan, 44 percent owned by French carmaker Renault, would meet all its targets laid out under its three-year "Nissan 180" plan.
"In terms of selling an extra million cars, we will need three years to achieve this figure. But all our objectives will be met by the date given," Ghosn, who is tipped to take the helm at Renault in 2005, told the newspaper.
The firm would also speed past its target of an eight percent operating margin in three years since it had already swelled the key measure of profitability to 10.6 percent -- a level that would not be threatened in 2003, he said.