Nissan has announced an ambitious new midterm business plan they’re calling “Power 88.” The name comes from Nissan’s goal of an eight-percent global market share, coupled with an eight-percent profit margin, all within the next six years.
To achieve such an ambitious goal, the automakers plans on introducing 52 new vehicles between the fiscal years of 2011 and 2016. That works out to be, on average, one new model every six weeks.
Carlos Ghosn, Nissan’s president and CEO, said of the plan, “Nissan Power 88 is the roadmap for our company’s profitable growth. We will accelerate our growth, bringing more innovation and excitement to our products and services as well as cleaner, more affordable cars for everyone around the world, in line with the energy and environmental challenges of the 21st century.”
If you took that statement to mean that Nissan will pay serious attention to emerging markets, you’d be correct. The automaker will focus on Brazil, Russia, China and India, and will launch new cars and light commercial vehicles just for these key markets under a plan called “mobility for all.” Production in China, Nissan’s single largest market, will increase to 1.2 million units per year in 2012 as Nissan aims for a 10-percent market share in China.
Their plan for luxury brand Infiniti is perhaps even more ambitious. In 2010, Infiniti sold approximately 150,000 vehicles worldwide, giving them a premium market share below four percent. As part of Power 88, Nissan wants a 10-percent market share for Infiniti among premium brands, which would yield sales of 500,000 vehicles annually. Expanding the Infiniti brand to 70 markets worldwide, with a range of at least 10 vehicles, should certainly help generate additional sales.
Nissan isn’t abandoning electric vehicles, either, and the automaker will continue to develop both zero-emission and low-emission technologies. Nissan is forecasting that cumulative sales of electric vehicles through both Nissan and Renault will reach 1.5 million units by the end of the 2016 fiscal year.