Saturday , 23 February 2019

Nissan announces expansion strategy for Indian market

Nissan, the Japanese automaker, has announced a major expansion strategy in the Africa, the Middle East and India region. This expansion strategy is a part of the company’s six-year midterm plan, Nissan M.O.V.E. to 2022. It aims to build on its strengths in markets including South Africa, India, the United Arab Emirates, Egypt and parts of sub-Saharan Africa. The company plans to maintain and build on solid profit margins in the region. Nissan will further develop strong partnerships and use local talent to meet growing vehicle demand. Industrywide sales in the region are expected to rise by about 40 percent to more than 12 million vehicles a year by 2022.

“Under the Nissan M.O.V.E. to 2022 plan, the company is looking to capture the full potential of the Africa, Middle East, and India region,” said Peyman Kargar, chairman of Nissan in Africa, the Middle East and India. “Our ambitious plans reflect the exciting opportunities ahead. Nissan has already developed a strong presence within this fast-growing region, and we are well-positioned to maximize our growth and make an increasing and lasting contribution to Nissan’s overall performance.” In India, the company will strengthen its dealership network and develop the power of the Datsun and Nissan brands through initiatives including sponsorship of the International Cricket Council.

Nissan has built a strong foundation for growth in India with a 480,000-vehicle capacity plant, as well as a large research and development center – both in Chennai and established with its Alliance partner, Renault. The Japanse automaker will expand into new frontier markets where few carmakers are present. This follows the March 2018 announcement that Nissan is entering Pakistan through a manufacturing and licensing agreement with its partner Ghandhara Nissan Ltd. The initiative to build Datsun models will create more than 1,800 jobs. Globally, Nissan is targeting annual revenue of 16.5 trillion yen and an 8 percent core consolidated operating profit margin by the end of fiscal year 2022. Autoportal

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