Nissan seeks to boost South Korean output on post-Brexit yen surge
Men walk past a Nissan Motor Co logo at the company's global headquarters in Yokohama, south of Tokyo February 9, 2011. REUTERS/Toru Hanai/File Photo
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
SEOUL (Reuters) - Nissan Motor wants to increase the output of its Rogue model at Renault's factory in South Korea this year, as a stronger yen makes exports from Japan less competitive, a Renault executive told Reuters.
The yen has jumped 20 percent against the dollar this year in the wake of Britain's decision to leave the European Union, pressuring Japanese exporters. The South Korean won rose 7.4 percent against the dollar this year.
“We have got a request to boost Rogue production by 8,000 vehicles this year," Renault Samsung Motor Chief Executive Officer Park Dong-hoon told Reuters, adding that the company was reviewing whether it would be able to meet the additional demand.
He added that Nissan Motor previously targeted output of 125,000 Rogue vehicles in South Korea this year.
Rogue is Nissan Motor's top-selling sport utility vehicle in the United States, with sales jumping 14 percent to 182,181 from January to July this year from a year earlier.
Nissan Motor currently produces Rogues in South Korea, Japan and the United States.
(Reporting by Hyunjoo Jin; Additional reporting Dahee Kim; Editing by Stephen Coates)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Vodafone wins German court victory over Telekom duct charges
- Deutsche Bank mulls listing asset management unit: sources
- Exclusive: Italian prosecutors launch probe into BT's local unit - sources