Nissan drives up investment
By Jin Jing |
July 27, 2011, Wednesday
|
Print Edition
Print Edition
NISSAN Motor's Chinese venture plans to invest 50 billion yuan (US$7.8 billion) by 2015 to help boost production capacity and launch new models as the Japanese car maker bids to capture a bigger share of the world's largest auto market.
Dongfeng Motor Co, Nissan's venture with Dongfeng Motor Group, aims to nearly double its annual sales to 2.3 million units by the end of 2015 and expand the dealer network from 1,400 now to 2,400 by then, according to its statement yesterday.
Last year, Wuhan-based Dongfeng Motor boosted sales by 38 percent year on year to 1.27 million units.
Nissan also intends to introduce nearly 30 new models in China, including cars under the joint venture's Venucia brand that will start to sell in 2012 to help the car maker raise sales from the 1.3 million units sold last year.
The firm will launch five self-branded vehicles by 2015, eying total sales of 300,000 units. Venucia electric models will also be launched in China, the statement added.
China plays a vital role for Nissan, which recently announced its global mid-term business plan, Nissan Power 88.
The plan seeks to increase Nissan's global market share and profit margin to 8 percent within six years by focusing on major emerging markets.
"China is Nissan's largest market and is key to our global development plan," Carlos Ghosn, chief executive officer of Nissan Motor Corp, said in Beijing. "We believe we have the potential to capture a bigger market share in China."
Ghosn said the company last year had 6.2 percent of the market in China and it aims to raise its share to 10 percent.
"The new plan, though, may face certain risks amid the current market slowdown," said John Zeng, director of Asian forecasting at JD Power Associates in Shanghai.
But eying long-term prospects, Zeng said he is "still optimistic about market growth" in China.
Dongfeng Motor Co, Nissan's venture with Dongfeng Motor Group, aims to nearly double its annual sales to 2.3 million units by the end of 2015 and expand the dealer network from 1,400 now to 2,400 by then, according to its statement yesterday.
Last year, Wuhan-based Dongfeng Motor boosted sales by 38 percent year on year to 1.27 million units.
Nissan also intends to introduce nearly 30 new models in China, including cars under the joint venture's Venucia brand that will start to sell in 2012 to help the car maker raise sales from the 1.3 million units sold last year.
The firm will launch five self-branded vehicles by 2015, eying total sales of 300,000 units. Venucia electric models will also be launched in China, the statement added.
China plays a vital role for Nissan, which recently announced its global mid-term business plan, Nissan Power 88.
The plan seeks to increase Nissan's global market share and profit margin to 8 percent within six years by focusing on major emerging markets.
"China is Nissan's largest market and is key to our global development plan," Carlos Ghosn, chief executive officer of Nissan Motor Corp, said in Beijing. "We believe we have the potential to capture a bigger market share in China."
Ghosn said the company last year had 6.2 percent of the market in China and it aims to raise its share to 10 percent.
"The new plan, though, may face certain risks amid the current market slowdown," said John Zeng, director of Asian forecasting at JD Power Associates in Shanghai.
But eying long-term prospects, Zeng said he is "still optimistic about market growth" in China.
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