Nissan Motor Co. intends to increase its sales by more than triple by the end of 2016 to 500,000 units in the Association of South East Asian Nations (ASEAN) as part of an effort to gain market share in the region that has been posting fast growth.
The company is targeting a market share of 15 percent under a six-year plan from only 6 percent in 2010, when it has sold 150,000 units, according to its subsidiary in Asia Pacific.
Nissan has revealed that one of its core strategies to reach its growth is the launch of more than 10 new vehicle models during the period as well as deep collaboration with governmental bodies to obtain a competitive edge.
The plan includes major emerging markets such as Vietnam, the Philippines, Malaysia, Indonesia and Thailand. This endeavor is part of the company’s "Nissan Power 88" plan, which has been outlined by CEO Carlos Ghosn last month.
It has a target to boost its global market share and profit margin to 8 percent within six years. The demand for cars in the emerging markets is expected to capture more than 50 percent of international sales volumes, the plan stated.
Also, ASEAN countries are among those that have been seen as strategic growth drivers, Toru Hasegawa, who is a regional vice president and head of Nissan Motor Thailand, disclosed.
Nissan intends to do more research and development work in the ASEAN countries and to increase its regional production capacity twice to 700,000 units per year from 350,000. In Indonesia, Nissan will participate in a low-cost, "green car" program started by the government.