Yokohama [Japan], June 14 (ANI): Nissan Motor Co. aims to expand the company's footprints in African, Middle Eastern, and Indian markets as part of its six-year midterm plan.
It plans to maintain and build on solid profit margins in the region by developing a partnership with local talent to meet growing demand for automobiles.
Nissan has projected an increase of forty percent in its regional sales by bringing more than 12 million vehicles by 2022.
It will further accelerate its Datsun brand's presence in new and existing markets and will continue to increase its market share in Turkey, Saudi Arabia, and India.
The product range provided under Nissan Intelligent Mobility will be expanded as new services in electrification, autonomous driving systems, and improved connectivity tools will be introduced.
Chairman of Nissan in Africa, Middle East, and India Peyman Kargar said, "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."
As per its mid-term plan, Nissan is targeting annual revenue of 16.5 trillion yen and an 8% core consolidated operating profit margin by the end of the fiscal year 2022.
The company has specific plans for each region.
Nissan 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% as 53,400 vehicles are currently in the market in the fiscal year 2017. The introduction of new models, including the new Nissan Micra, is expected to boost demand further.
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.
In the Middle East, Nissan will add new models to its already strong presence in key segments, building on its fiscal year 2017 sales of 96,600 vehicles. (ANI)