Nissan Motor Co. and Mitsubishi Motors Corp. have each released a jointly developed minivehicle under different brand names amid growing competition in the domestic minicar market.

To better compete with their rivals, the two automakers have kept prices of the models down by sharing the main vehicle components while retaining their brand identities through details such as exterior and other features.

The jointly developed minivehicle launched Thursday is being sold under the name Dayz by Nissan and eK Wagon by MMC. The models share basic structures and key performance specs, such as a fuel efficiency of 29.2 kilometres per litre, which is slightly better than that of their rivals.

The models differ, however, in exterior design. Nissan’s model creates a three-dimensional look in the front grille, while MMC uses a simple design with characteristic lines.

For safety features, Nissan’s Dayz is the automaker’s first minivehicle equipped with an “around-view monitor” that displays a view of the vehicle from above. MMC has equipped its model with a monitor that displays a view from the rear of the vehicle.

Previously, Nissan procured minivehicles from original equipment manufacturers (OEM) MMC and Suzuki Motor Corp. and sold them under its own brand names. This is the first minivehicle Nissan has developed that incorporates its own design and other features.

Nissan Chief Operating Officer Toshiyuki Shiga said, “With this, we’ve offered a future standard of minivehicle using our advanced technology.”

The prices, including tax, start at 1.05 million yen (US$10,760) for MMC’s eK Wagon and about 1.07 million yen for Nissan’s Dayz, making them less expensive than their rivals--Daihatsu Motor Co.’s Move, Suzuki’s WagonR and Honda Motor Co.’s N-One.

Nissan has set a monthly sales target at 8,000 units while MMC hopes to sell 5,000 units a month. The new minivehicle models have been well-received, with both companies having taken preorders for about 12,000 units.

MMC President Osamu Masuko said, “The model has been highly regarded by customers.”

However, ahead of the release of the models, MMC on Tuesday filed a report with the Land, Infrastructure, Transport and Tourism Ministry of a recall of 1,456 units of both models due to faulty auxiliary brake lights.

An MMC official said, “The recall is for units used for test driving and won’t affect those to be sold to customers.” But the recall appears to have spoiled the launch of the models.

*U$1=97.5 yen