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Weaker-than-expected sales in Russia, Australia, Indonesia, Thailand and Brazil took a toll on sales, but Ghosn said Nissan has done relatively well in China, despite slowing growth in that market, regaining market share lost due to disruptions from a territorial dispute between Tokyo and Beijing. Ghosn said Nissan has been stretched, with nine plants in construction or expansion at the same time. He noted that with $831 billion ($8.5 billion) in cash on hand, the company was engaging in its highest investment level ever. "A little bit of the bad news, we could overcome. Too much of the bad news, impossible," he said. Still, Ghosn was confident about the automaker's capacity to respond to its recent hardships in the longer term. The company, allied with Renault of France, will begin making cars in Brazil in 2014, helping to reduce costs from tariffs imposed on its vehicles imported from Mexico. Nissan's half-year profit rose 6.8 percent to 189.8 billion yen ($1.9 billion) from 177.7 billion yen a year earlier. In unit terms, Nissan's global sales fell 1.5 percent due to declines in Europe and emerging markets. But sales in the U.S. jumped 14.5 percent and in Japan rose 3.6 percent.
Ghosn said the new management lineup would seek stronger discipline in reining in costs.
[Associated
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