NISSAN TO REDUCE EUROPEAN PRESENCE IN TURNAROUND PLAN

Nissan Motor Co. is planning to further reduce its presence in Europe and outsource the sales and manufacturing of its cars to alliance partner Renault, the daily Yomiuri newspaper reported on Friday. As part of its global turnaround plan, which is reversing a rapid expansion led by the ousted former chairman, Carlos Ghosn, Nissan will cut its distribution channels in thirty countries, mainly in East Europe. It is also planning to close its Avila plant in Spain and convert it into a warehouse, the report said. The Japanese motor company is moving its operations away from Europe and shifting its focus to China, the United States, and Japan. Nissan, which expects to post a record operating loss of 340-billion yen (US$3.25 billion) in the year to March 31, is cutting production capacity and model numbers by a fifth.