Nissan's Espinosa plans 20% reduction in models in plan to reinvigorate carmaker

A year after taking charge of ailing automaker Nissan Motor, CEO Ivan Espinosa has unveiled a makeover to freshen its aging lineup and set ambitious targets to boost U.S. and China sales to levels not seen in years.

The Japanese automaker plans to reduce the number of models from the current 56 to 45 and streamline 80% of its volume into three main "families" of vehicles that are built on shared platforms and that are geared for its biggest regions, it said in a statement Tuesday.

The long-awaited strategy marks Espinosa's first effort to reshape Nissan after scaling back its troubled, two-decade partnership with Renault and, more recently, an aborted merger with Honda Motor. 

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