Mon, Aug 08, 2011 - Page 10 News List

Nissan targets 15% Japan market share, to debut 51 models

BACK ON TRACK:Nissan expects to get back to full production some time in October after it closed some production lines in the wake of the tsunami

Bloomberg

Nissan Motor Co, Japan’s -second-largest automaker, aims to increase domestic sales to about 600,000 cars in a drive to hold 15 percent of the nation’s vehicle market by 2013 as it recovers from the record quake and tsunami in March.

Nissan executive vice president Hiroto Saikawa disclosed the target as part of a six-year plan yesterday in Yokohama.

In the long-term, Nissan seeks to boost market share to about 20 percent, Takao Katagiri, also executive vice president, said at the same round-table meeting. Last year, Nissan’s domestic market share was 13 percent.

FULL RECOVERY

Nissan expects to resume full production worldwide by October, targeting a 10 percent increase to 4.6 million global vehicle sales this fiscal year.

The automaker aims at domestic sales of 600,000 cars and exports of between 400,000 and 600,000, Saikawa said. Nissan sold 460,000 vehicles in Japan and exported 610,000 in the year ended in March.

EXPECTATIONS

Nissan posted net income of ¥85 billion (US$1.1 billion) in the three months ended on June 30, beating analysts’ estimates.

Toyota Motor Corp, the country’s largest automaker, raised its full-year profit forecast by 39 percent, while Honda Motor Co, the third-biggest, increased its forecast 18 percent.

NEW MODELS

Nissan will introduce 51 models over the next six years as it aims to capture 10 percent of global luxury-car sales. The models will meet demand for eco-friendly and compact cars, with half targeted at the Japanese market, Saikawa said.

The automaker seeks to achieve 8 percent levels in both global market share and operating profit margin by fiscal 2016, from 5.8 percent and 6.1 percent respectively in the year ended on March 31, according to a mid-term plan announced in June.

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