Japanese automobile manufacturer Nissan has set a target of achieving 10 percent of the car market share in India by the year 2016. The carmaker plans to introduce 10 new car models and increase production capacity in India in order to attain the target.
According to Mr. Kenichiro Yomura President Nissan India Operations and Managing Director & Chief Executive Nissan Motor India, the automaker posted a 11 percent increase in sales selling 36,975 units in the fiscal 2012-13 in comparison to 33,270 units sold in 2011-12. He added that the company faces challenges such as rise in input costs and the price differential between petrol and diesel contributing lower market sentiments.
Mr. Yomura also shared the carmaker’s plans to expand its production capacity to 4,80,000 units annually by the year 2014. The 10 new car models to be launched in the Indian market will be introduced in different segments to enable maximum possible market penetration.