Nissan to review its mid-term plan on backdrop of poor sales

Company says lots need to improve and it made few mistakes

The Japanese automajor Nissan today said that it will re-visit its mid-term plan, which includes capturing 10 per cent of the Indian passenger market by fiscal 2016.

This comes on the backdrop of performance of the company and the industry. Company's senior official said that the company will be able to achieve only 40 per cent of its sales target for 2013-14.

Speaking to reporters after launching Datsun Go in Chennai today Kenichiro Yomura, president, Nissan India Operations, Managing Director and CEO, Nissan Motor India Pvt Ltd said that today economic circumstances are different and the industry is also not doing good, which resulted in poor performance of the company.

"Our sales target for 2013-14 was one lakh units in the domestic market, but under the current circumstance we may achieve only 40 per cent of our target," said Yomura.

He added, the company is reviewing its mid-term plan based on its performance and industry performance.

The original mid-term plan of Nissan was to capture 10 per cent in the Indian passenger car market by fiscal 2016 and to sell five million cars, which Yomura says in the current circumstance it will not be possible.

While refusing to share any further details on the performance and way forward, Yomura said, "we are a late comers in India, we made some mistakes and we need to improve in lots of things," he said, adding that he is optimistic about the future, especially with the brand Datsun, which is expected to contribute almost 50 per cent of Nissan's sales by 2016.

He added, the current condition is not unique for Nissan India, globally Nissan is reviewing the mid-term plan, especially in the emerging markets.

Nissan Motor India Pvt Ltd, is a 100 per cent subsidiary of Nissan Motor co. Ltd, Japan. The company was incorporated in 2005 and offers products in hatchback, MUV, SUV and sedan segments. The company registered a sales of 36,975 units in fiscal 2012.

Commenting on the exports, Yomura said it will cross the one lakh mark this fiscal. The company has been exporting its models Micra and Sunny from the Oragadam facility to over 100 countries. "Recently we started exporting Evalia to South Africa," said Yomura.