Nissan to boost global market share to 8% in FY 2016 | business | Hindustan Times
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Nissan to boost global market share to 8% in FY 2016

business Updated: Jun 27, 2011 12:54 IST
Nissan Motor

Japanese auto giant Nissan Motor on Monday said it would aim to achieve a global market share of eight percent by the end of fiscal 2016 as it unveiled a six-year business plan.

Nissan, which is 44.3 percent owned by French partner Renault, also said it aimed to lift its operating profit margin to eight percent in that period under its "Nissan Power 88" growth plan.

Japan's second-biggest auto maker by volume, after Toyota, had a 5.8 percent global market share last year.

The plan will see the Nissan-Renault alliance aim for cumulative electric vehicle sales of 1.5 million units in that period. Nissan last year began selling its all-electric Leaf car in Japan, the United States and some parts of Europe.

It said it would also aim for a 10 percent share of the Chinese market while boosting its presence in economies such as Brazil -- where it will build a new factory -- Russia and India, as well as the next wave of emerging economies.

Nissan currently has a 6.2 percent market share in China.

"In 2012, we will have nearly doubled our production capacity to 1.2 million units," in China, company president and CEO Carlos Ghosn told reporters.

"We will further increase our capacity to be in line with our goal of 10 percent market share," he said.

The firm will continue to focus on zero-emission vehicles and low-emission technologies while also aiming for a 10 percent share of the global luxury market with its Infiniti brand.

The automaker last week said annual net profit this fiscal year will fall 15 percent year-on-year after Japan's March 11 earthquake hit output, while it also struggles with high raw material costs and a strong yen.

The 9.0-magnitude quake and tsunami destroyed entire towns, left 23,000 dead or missing and crippled electricity-generating facilities, including a nuclear power plant at the centre of an ongoing atomic crisis.

Japanese firms were hit hard by power and chronic parts supply shortages, with the likes of Nissan, Toyota and Honda having to sharply cut production and shut plants due to a lack of crucial components.

Nissan shares closed up 0.11% at 845 yen ahead of the announcement.