Nissan expects to be debt-free by end 2010: CEO

Japanese car maker Nissan Motor Co Ltd expects to be debt-free by the end of 2010 and is looking to double its market share with Nissan, its chief executive said on Sunday.                                           

Earlier this week, Japan's third-largest automaker, returned to quarterly profit on Tuesday and lifted its outlook for the second time, though warning of a still shaky outlook for the global car market.                                           

Nissan's larger rival Toyota is struggling with the worst recall in its history, involving more than 8 million vehicles and tarnishing its reputation for industry-leading quality.                                           

"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," chief executive Carlos Ghosn said when asked about the impact of Toyota recalls.                                           

Ghosn is the head of both Nissan and France's Renault SA. Renault holds a 44% stake in Nissan.                                            

Nissan expects to launch a new platform in Geneva with small cars, and "very well" priced for everyone, Ghosn said while talking to reporters.                                           

He did not provide a timeline for when Nissan expects to double its market share.                                           

Nissan expects its overall industry volume for the year to be good helped mainly by sales in China, an executive told Reuters earlier in the week.