Nissan Motor Co. disclosed that it wants to increase its international market share in the vehicle industry to 8 percent within six years, offering an average of one new car model every six weeks to entice customers away from its competitors.
Under its midterm business plan called Nissan Power 88, the company also promises to increase its operating profit margin to 8 percent by the year ending in March 2017.
Last year, the company had an operating profit margin of 6.1 percent and an international market share of 5.8 percent.
Carlos Ghosn, the company's CEO, revealed last week that the next stage of growth under the six-year plan should bring further profitability and market share gains as Nissan benefits from its major investments in Russia and India, as well as from technologies like low-cost "V-platform" subcompact cars and electric vehicles.
The CEO said that this is the first time that Nissan is beginning a business plan on the offensive. He has led the company through four growth strategies since he moved from partner Renault SA in 1999, making the near-bankrupt company into one of the most successful players in the vehicle industry.
Nissan obtained a record share of the international vehicle market in 2010, outperforming the industry, especially in Europe and China. As part of the CEO's fifth mid-term business strategy, the company said it would have a factory in Brazil that will produce 200,000 cars annually.