Nissan Motor Co. aims to bring its European operations back to profitability in fiscal 2001, provided foreign exchange rates remain stable, Nissan President Carlos Ghosn said Tuesday.

"If the currency rate between the pound and the euro and (between) the yen and the pound remain stable . . . I think we can come back (in Europe) in 2001," he said, adding that regardless of exchange rates, the automaker expects to bring its European business back to growth and profits in 2002.

Ghosn made the remarks at a Tokyo press conference marking the launch of the fully remodeled versions of its Primera. The new Primera wagon and sedan will be available in two engine sizes, 2,000cc and 2,500cc, with sales expected at 5,000 vehicles per month.

While the automaker is slated to release the new Primera sedan and wagon in Europe in early 2002, Ghosn acknowledged that he'd like to be able to release it much more quickly.

Ghosn said Nissan's ultimate goal for launching new vehicles in overseas markets is to do so within three months of their domestic market release, adding that the automaker hopes to reach this goal by March 2003.

More time is needed now, Ghosn explained, because changes to the automaker's organizational structure and to sectors related to overseas product launches are required to achieve the objective.