Nissan Motor Co., Ltd. unveiled a major expansion strategy in the Africa, the Middle East and India region today as part of the company’s six-year midterm plan, Nissan M.O.V.E. to 2022. Nissan aims to build on its strengths in markets including South Africa, India, the United Arab Emirates, Egypt and parts of sub-Saharan Africa. The company plans to maintain and build on solid profit margins in the region.
Nissan will further develop strong partnerships and use local talent to meet growing vehicle demand. Industry wide sales in the region are expected to rise by about 40% to more than 12 million vehicles a year by 2022. A key point of the plan is to increase its markeshare in India by strengthening its dealership network and develop the power of the Datsun and Nissan brands through initiatives including sponsorship of the International Cricket Council. Nissan has built a strong foundation for growth in India with a 480,000-vehicle capacity plant, as well as a large research and development center – both in Chennai and established with its Alliance partner, Renault.“Under the Nissan M.O.V.E. to 2022 plan, the company is looking to capture the full potential of the Africa, Middle East, and India region,” says Peyman Kargar, chairman of Nissan in Africa, the Middle East and India. “Our ambitious plans reflect the exciting opportunities ahead. Nissan has already developed a strong presence within this fast-growing region, and we are well-positioned to maximize our growth and make an increasing and lasting contribution to Nissan’s overall performance.”
The regional expansion is the latest announcement of the global Nissan M.O.V.E. to 2022 plan. Launched in fiscal year 2017, the midterm plan calls for achieving sustainable growth while leading the automotive industry’s technology and business evolution. Globally, Nissan is targeting annual revenue of ¥16.5 trillion and an 8% core consolidated operating profit margin by the end of fiscal year 2022.
Other tenets of the plan include entry into the Pakistani market through a manufacturing andl licensing agreement with Ghandhara Nissan; expansion of car modesl in the Middle East and increased focus on Egypt and Nigeria.