News Summary: Nissan seeks share of minicar market

Nissan, Mitsubishi co-develop minicar to grab bigger share in promising niche Japanese market

Associated Press

TAG TEAM: Japanese automakers Nissan and Mitsubishi are joining forces to grab a bigger share of the country's lucrative market for tiny cars, now dominated by their three rivals.

GROWING SMALL: The new model, sold as Dayz for Nissan Motor Co. and eK Wagon for Mitsubishi Motors Corp., marks the first time Nissan has been involved from start to finish in the development of a minicar, or "kei," which means "light" in Japanese.

THE FROSTING: Kei cars, which must be 3.4 meters (about 11 feet) or shorter in length with an engine size of 660 cc or smaller, are eligible for hefty tax breaks in Japan, boosting their popularity in an otherwise long stagnant market.

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