Nissan Exposes New Plan to Increase Market Share in China
In an effort to increase market share, Nissan has been observing China for quite some time now. Nissan has not exposed many details about their plan until now. We have to admit, we were unaware of how big the company's goals were.
A new business plan presented by Carlos Ghesn, CEO, Nissan explains a joint plan with Chinese business partner Dongfeng Motor Co., Ltd., which highlights a 70% increase in annual sales by 2014. That converts to more than 2 million cars sold per year, in the next 4 years.
"...We know we have a shortfall in terms of supply - we cannot provide as many cars as the market is demanding," shares Ghosn. "I would say the pent-up demand on our product today is above seven percent already. We want to reach 10 percent."1
The Nissan brand, exclusive to the Chinese market, is officially called Venucia. Nissan indicates Venucia will release their first five new models in 2012. The brand will also begin selling an EV within the next four years.
Although this is most certainly an aggressive business strategy, there is a huge potential for success. Rican Xia, Analyst, Mitsubishi UFJ Asset Management explained, "Nissan has been doing very well in China in the past few years on the popularity of models like the Tiida and Teana. The Chinese market will play a much more important role for Nissan in the future, as it has potential like no other."2
Stay tuned to learn more about how Nissan plans to expand market share in China and worldwide. Garland Nissan, located at 2507 Fort Campbell Blvd Hopkinsville, KY 42240, is dedicated to keeping you informed.