Japanese carmaker Nissan Motor Co. revealed on Monday its new midterm business plan dubbed “Power 88”, with which it aims to boost both its global market share and profit margin to 8 percent within six years – hence the “88” reference in the name. Last year, Nissan, which is 44.3 percent owned by French partner Renault, had a 5.8 percent global market share. The new plan calls for the introduction of 52 new cars for fiscal years 2011 to 2016, or about one new vehicle every six weeks. Japan’s second biggest automaker in terms of sales said it will also try to capture 10% of the premium segment or about 500,000 cars today with its Infiniti brand that will be available in more than 70 markets with a range of at least 10 vehicles. “Nissan Power 88 is the roadmap for our company’s profitable growth,” said Nissan President and Chief Executive Officer Carlos Ghosn. “We will accelerate our growth, bringing more innovation and excitement to our products and services as well as cleaner, more affordable cars for everyone around the world, in line with the energy and environmental challenges of the 21st century.” Nissan will also focus on the emerging markets of Brazil, Russia, India and China. The highlights of Nissan’s “Power 88” plan are:
· Nissan’s extended new product plan will deliver, on average, an all-new vehicle every six weeks for six years. The company’s global portfolio will have 66 vehicles and will cover 92% of all markets and segments.
· The emphasis on sustainable mobility will continue, encompassing zero-emission vehicles and low-emission technologies that support PURE DRIVE. Cumulative electric vehicle sales for the Renault-Nissan Alliance will reach 1.5 million units.
· “Mobility for all” will expand with dedicated new cars and light commercial vehicles (LCVs) developed for entry-level segments and emerging markets.
· Nissan will introduce more than 90 new, advanced technologies, averaging 15 per year.
· In 2012, Nissan will have a production capacity of 1.2 million units in China. China has become – and will continue to be – Nissan’s largest single global market. Nissan aims for a 10% share of the Chinese market. Nissan will also increase its presence in Brazil, Russia and India, as well as in the next wave of emerging markets.
· In Brazil, Nissan will build a new plant, with a capacity of 200,000 units as a first step.
· Nissan NV200’s selection as New York City’s “Taxi of Tomorrow” illustrates the company’s momentum in the LCV field. By 2016, Nissan will be the world’s leading light commercial vehicle manufacturer.
· The Infiniti premium brand will grow from its 2010 sales level of 150,000 vehicles to 10% of global market share among luxury brand segments, a level today that would represent 500,000 vehicles. Infiniti will be present in more than 70 markets with a product range of at least 10 vehicles.