September 26, 2005

Nissan CEO says hybrids “not a good business story”

Sausalito, California – Addressing the National Automobile Dealers Association, Nissan CEO Carlos Ghosn said that hybrids make little business sense because of the high costs involved, even though the company will manufacture a hybrid version of the Altima in 2006 using technology licensed from Toyota.

As reported by the Green Car Congress, Ghosn said the hybrid Altima was only intended to help the automaker comply with strict fuel economy and emissions standards in California and does not expect it to be a moneymaker. He noted that only about 88,000 of the 16.9 million light vehicles sold in the U.S. last year were hybrids. However, he has also left open the possibility of Nissan manufacturing up to 50,000 hybrid units if there is demand for them.

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