06/06/2008 16:18. The revamped Teana is priced between 2.47 million yen ($23,400) and 3.95 million yen ($37,400), the Tokyo-based automaker said in a statement today.

The company plans to sell 1,000 units a month.

Nissan, 44% owned by Renault SA, is releasing new models to attract customers in a market that is shrinking because of a sluggish economy. Industrywide demand may fall 0.3% in the same period, according to the Japan Automobile Manufacturers Association.

"We aim to stimulate the sedan market, which accounts for about 20% of overall demand,'' Nissan Chief Operating Officer, Mr.Toshiyuki Shiga said at a press conference in Tokyo.

The company also plans to introduce the model in China and Russia this month, he said.

Overall domestic sales at Nissan may be little changed at... // Auto Insight