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Ghosn said Nissan expects sales of the Infiniti to grow overseas and it had not yet made a decision about whether to sell Infiniti models in Japan. Nissan is targeting 10 percent of the premium auto market, which would mean that its annual global sales of luxury models must grow from the current 160,000 to 500,000 vehicles. Nissan's rival Toyota Motor Corp. has committed itself to making 3 million vehicles in Japan, half of which are exported. Skeptics say that it is almost impossible for Toyota to sell 1.5 million vehicles in Japan a year because the population is shrinking and car ownership is less of a priority for a younger generation of Japanese. The cheap yen is a blessing and feels like "the wind blowing from behind," pushing along Toyota's move forward, President Akio Toyoda told The Associated Press on the sidelines of a Japanese Automobile Manufacturers Association reception on Monday. "But we can't be responding each time to currency shifts," he said. Honda Motor Co. President Takanobu Ito agreed. The cheap yen was a plus only in the short term, and it could work as a minus in other ways because of rising raw material costs, he said. "What's best is that currencies remain stable," Ito said. Honda already has 80 percent of its overall production abroad. Ghosn said the cheap yen means that Infiniti production will remain in Japan, although its production abroad is likely to expand. He declined to say where the new production was being planned. "It's a complement, not a substitution," he said of the overseas production.
[Associated
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