Nissan in bid to lift market share with new vehicles
NISSAN Motor yesterday outlined plans to boost both its global market share and profit margin to eight per cent within six years, promising a new vehicle every six weeks on average to woo consumers away from rivals.
The new mid-term business plan, dubbed Nissan Power 88, will focus on the major emerging markets of Brazil, Russia, India and China, as well as newly developing ones in Southeast Asia, chief executive Carlos Ghosn said.
“This is the first time that Nissan is starting a [business] plan on the offensive instead of reconstructing something, or defending something,” he told a news conference at Nissan’s headquarters in Yokohama yesterday.
The market share target would represent sales of more than 7m vehicles based on Ghosn’s forecast that vehicle sales would reach more than 90m worldwide in the business year ending in March 2017.
Ghosn has led Nissan through four growth plans since arriving from partner Renault in 1999, turning the near-bankrupt company into one of the most profitable in the auto industry.