Yulon Nissan Motor Co (裕隆日產), which distributes Nissan and Infiniti vehicles in Taiwan, yesterday said it plans to introduce more new models, including of its Leaf electric car, later this year to boost sales.
Yulon Nissan and its local peers are grappling with an unfavorable environment as COVID-19 restrictions and an ongoing chip shortage dampened the nation’s auto sales in the first half of this year, Yulon Nissan chairperson Lilian Chen (嚴陳莉蓮) said in the company’s annual general meeting in New Taipei City’s Sindian District (新店).
The company plans to launch a second-generation Nissan Leaf, which would have 50 percent more battery power than the first one, in the fourth quarter, Chen said.
Photo courtesy of Yulon Nissan Motor Co
A new luxury sports utility vehicle model — the Infiniti QX55 SUV Coupe — is also expected to hit the local market in the fourth quarter, she said.
That would be the second new model under the Infinity series that Yulon Nissan introduces to Taiwan this year, following the launch of the Q50 300GT sedan in the first quarter.
The company expects vehicle sales in China via Dongfeng Nissan Ltd (東風日產), its joint venture with China’s Dongfeng Automobile Co (東風汽車), to drive growth this year, it said in an annual report.
Dongfeng Nissan has set a goal to sell 1.28 million vehicles this year, up 5.79 percent annually, riding on the stabilizing COVID-19 situation in China and a recovering economy.
Yulon Nissan also aims to expand its overseas auto component markets, which currently include Singapore, Egypt, Japan, Thailand, India, South Korea and Middle Eastern countries. Its auto component exports more than halved to NT$70 million last year from NT$150 million in 2019 as demand shrank amid COVID-19 restrictions.
Shareholders yesterday approved a proposal to distribute a cash dividend of NT$18.53 per share, representing a payout ratio of 85 percent based on the company’s earnings of NT$21.8 per share last year.
Chen was re-elected as the company’s chairperson and 10 others were elected as board directors.
The company’s net profit fell about 11 percent to NT$6.54 billion (US$233.07 million) last year from NT$7.28 billion in 2019.
Its auto sales dropped 4.3 percent to 36,200 units last year from 37,821 units.
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