Nissan Will Reintroduce the Z Sports Car in U.S.

After months of teasing, Nissan Motor Co. said Wednesday that it will bring its famed Z sports car back to the U.S. market within three years, a move aimed at revitalizing its flagging fortunes and product portfolio.

“We will build it,” declared Minoru Nakamura, president and chief executive of Gardena-based Nissan North America, at a news conference at the New York International Auto Show.

The Z car holds a special mystique for Nissan. The vehicle, originally introduced as the Datsun 240Z in 1969, is credited with helping to establish Nissan and other Japanese imports as credible brands in the United States.

Now Nissan hopes that the all-new version of the legendary sports car will provide a much-needed image boost and appeal to younger buyers who now shun its conservatively styled vehicles.

The announced return of the Z car comes less than a week after debt-laden Nissan agreed to a strategic alliance with Renault of France, which will invest $5.4 billion to acquire a one-third stake in the No. 2 Japanese auto maker.

Nissan officials said the new Z, which should be ready for production in 2002, will be developed as a global product that will be sold in North America, Europe and Japan.

“This is not just a cute car for America,” said Jerry Hirshberg, president of Nissan Design International, the La Jolla-based studio that is conceiving the new vehicle.

“It’s a great move,” said Wes Brown, an analyst for auto consulting firm Nextrend in Thousand Oaks. “It’s an image car, and that’s something that Nissan’s been lacking for a while.”

The new Z car will resemble the concept version introduced in January, which features distinctive scalloped headlamps, a long hood and short rear overhang. Hirshberg said the production version will be rear-wheel drive and be offered both as a hardtop and convertible. It is likely to have a six-cylinder engine and be priced under $25,000.

Bringing back the Z is not without risks. Although the market for sports cars has recently been strong, it is a fickle segment in which profit is hard to come by. And Nissan will be facing increased competition: Honda, Audi and Toyota are all bringing new roadsters to market in the next two years.

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