JEDDAH, 17 April — The current exchange rate has helped Japanese car distributors tremendously. “The Japanese currency, which has remained upward of 130 yen to a dollar, has made prices of Japanese cars very competitive against European and American vehicles,” a top executive of a leading distributor told Arab News on Monday night.

The occasion was the launch of all-new Nissan Infinity Q45, described as an “innovative response to contemporary life.” The 2002 model is a unique combination of exciting performance, dramatic styling, luxurious interior and innovative technology. It features a 365 hp V8 engine, an LCD information display screen, and one of the most powerful headlight systems in the world.

Alhamrani United Co. Chairman and President Muhammad Ali Alhamrani presided the launch ceremony. Nissan Motor Co. Ltd. Senior Vice President Toshiyuki Shiga, who specially flew in from Tokyo for the event, reviewed the ‘Nissan revival plan’ and its benefits. He said: “The outlook for the next three years is bright and one of profitable growth.”

The new car achieves the desire to invigorate the spirit, soothe the body, as well as to be fully informed and in control, with new parameters for luxury performance, leading edge design, and innovative features that individualize personal comfort, he said in a presentation. Alhamrani said: “Our long, strong and well established association with NMC has been a success story. This is due to very strong cooperation and constructive dialogues between the two corporate giants at all levels.”

Speaking to Arab News, Ahmed Ali Alhamrani, general manager, marketing & vehicles, said: “We’re targeting the VIP segment, especially those between 24 and 40 years of age.” Nissan’s products undergo a complete change in their concept and design over a period of time, he said, adding that some of them had been successfully introduced earlier. “More customer driven products of ours will come in due course and we are certain about their success because of product quality and performance. In fact, we take into consideration all specifications that owners and drivers desire and look forward to.” According to him, Nissan’s market share in the Kingdom, is around 26 percent in the Japanese segment.

H. W. Lewis, deputy general manager-marketing at the Alhamrani United Co., said the car, built on luxury and sports platform, has an extra legroom built in the back of the vehicle that will be welcomed by passengers.

“Nissan’s market has been climbing slowly here and globally. It’s a little bit up on last year. We do have an extensive training program run by the distributors in the Kingdom for both Saudis and existing non-Saudi staff in sales, service, finance and administration areas. We constantly recruit Saudis as our customers are Saudis and they prefer to deal with Saudis,” he added.