Nissan Motor Co. Ltd. has unveiled an expansion strategy for the Africa, Middle East and India region under the company’s new six-year midterm plan, Nissan M.O.V.E. to 2022. Nissan is planning to build on its strengths in markets including South Africa, India, the United Arab Emirates, Egypt and parts of sub-Saharan Africa. Nissan is expecting sales in the region to rise by about 40% 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."
Also Watch: Sunil Chhetri Interview!
In India, the company will strengthen its dealership network and develop the brand through initiatives including sponsorship of the International Cricket Council. Nissan has a 480,000-vehicle capacity plant, as well as a large research and development center – both in Chennai.
Globally, Nissan is targeting annual revenue of 16.5 trillion yen and an 8% core consolidated operating profit margin by the end of fiscal year 2022.
Nissan 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.
In the Middle East, Nissan will add new models to the existing line-up, building on its fiscal year 2017 sales of 96,600 vehicles. In Saudi Arabia, market share is expected to double from 7% in fiscal year 2017 to 14% by the end of the plan.
Nissan also plans to increase its market share in South Africa, now at 10%, substantially over the course of the plan. The company’s sales in South Africa jumped by 26% to 53,400 vehicles in fiscal year 2017. Nissan is studying further manufacturing opportunities in sub-Saharan Africa.
Comments
0 comment