In America the Z-car went on hiatus from 1997 to 2002, as Nissan focused more on SUVs and was also in some financial trouble. To keep Z-car interest alive, Nissan launched a restoration program in 1998 for which they purchased original 240Zs, professionally restored them, and re-sold them at dealerships for about $24,000.
Nissan next launched a concept car at the 1999 North American International Auto Show, the 240Z Concept. Clearly a throwback to the original, it was a bright orange two-seater with classic swept-back styling. In addition, it was fully functional, with the 2.4-liter 4-cylinder KA24DE engine from the Nissan 240sx featuring 200 bhp (150 kW) and 180 lb·ft (244 N·m) of torque. The designers used an original 240Z to provide inspiration and the concept was created in only 12 weeks.
The running concept, featuring a 4-cylinder engine compared to the Z-car's traditional 6-cylinder engine, was eventually thought less than a worthy successor to the line.
In 1999 the French company Renault bought 44.4% of Nissan and Carlos Ghosn became its chief operating officer. But it would not be until 2001 when Carlos Ghosn became CEO that he would tell reporters: "We will build the Z. And we will make it profitable."[14]
On January 8, 2001, Nissan introduced the Z Concept. Much like the previous Z concept, it debuted at the North American International Auto Show and was painted a bright orange. The squat, long-hood/short-deck styling resulted from a competition between Nissan's Japanese, European, and American design studios, with the La Jolla, California studio's design being chosen in March 2000. The product planners hoped to avoid the price problems that plagued the last few years of the 300ZX with a target MSRP of $30,000 while using the Porsche Boxster as a benchmark.
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In the summer of 2002, the 350Z was released to wide acclaim.
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