Nissan to be fully debt-free by then end of 2010

Nissan, leading car manufacturer (based in Japan) is expecting to be free from all its debts by the end of 2010. With this company is also planning to double its market share in the regions like Middle East, told by chief executive on Sunday. Nissan which is also Japan's third largest carmaker was struggling with lowering sales as shaky outlook for its global car market just few months back but now with lifting its outlook for the second time, the company has returned to quarterly profit on Tuesday.

Nissan is far from its potential in the middle east region said Mr Carlos Ghosn while speaking to the media persons. They were looking to double their market share he added, though he hasn't provided any time frame for this.

As Toyota Motors, Nissan's arch rival and world's largest car manufacturer is under fire because of highest ever vehicle recall in company's history which involves around 8 million of its vehicles, it's a good opportunity for the company to grab a substantial market share in its domestic market.When a car company (Toyota) is in trouble you can have a tactical advantage in the short term, but don't expect more from that. It doesn't change the whole ballgame, Mr Ghosn added.

Nissan launched a new version of its Nissan Patrol model in the Middle East region. The Patrol model has been designed specially for Middle East market and it has all new generation features including four wheel drive and ABS. The company is planning to launch this vehicle in areas like Gulf Arab by the starting of next quarter.