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Memorandum of understanding signed with new business partner Manuel Antelo

Nissan Americas today announced a new business strategy to grow the company's presence in Argentina through a partnership with Manuel Antelo. The new arrangement, to begin in late 2011, will strengthen Nissan's sales, service and distribution operations in Argentina and provide sustainable growth in one of the world's key automotive marketplaces.

Renault Argentina S. A., Nissan's present distributor in Argentina, will continue to support the company's business through the end of 2011. At that time responsibility for Nissan branded products in Argentina will be assumed by Antelo.

"Today is an important milestone for Nissan growth in Argentina," said Carlos Tavares, Chairman, Nissan Americas. "While Renault Argentina S. A. has been a key contributor to the success of the Nissan brand in this country, we know that distinct business structures are now the best roads for both brands' business growth in Argentina. By forming a separate Nissan operation we allow Renault to concentrate on its business while positioning the Nissan brand for growth acceleration in this market. This reinforces our long-term commitment to Argentina."

Antelo, an entrepreneur with more than two decades experience within the automotive industry, is currently owner and President of CAT Group - a French multinational company specializing in vehicle and parts logistics. He is also co-owner with Wallenius Wilhelmsen, the Scandinavian Maritime group, of Vehicle Service America, an American company specializing in vehicle logistics. Antelo is also owner of Car One Argentina, the largest automotive retail business in the country.

"I am very excited about working together with Nissan to strengthen the opportunities the company has in my country," said Antelo. "I am certain that Nissan and its dealers will grow faster and more consistently in the years to come. I am also very proud to have been selected as Nissan's local partner."

Nissan has been consolidating its presence in Argentina with very strong volume growth, already achieving 2 percent market share in 2010 with the success of the Tiida nameplate and the strong brand foundation.
The company expects to increase the Nissan brand's share of the marketplace to over 5 percent in 2014. Nissan will continue improving its presence in Argentina through a sustainable growth strategy supported by a strong product introduction plan for the coming years.

In The Americas, Nissan's operations include automotive styling, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. Nissan is dedicated to improving the environment under the Nissan Green Program 2010 and has been recognized as a 2010 ENERGY STAR® Partner of the Year by the U.S Environmental Protection Agency. More information on Nissan in The Americas and the complete line of Nissan vehicles can be found online at www.nissanusa.com.

source: http://www.nissannews.com/newsrelease.do?id=1857&mid=