Nissan aims to corner 15% Japan vehicle market share

Nissan Motor Co., Japan's second-largest automaker, aims to increase domestic sales to about 600,000 cars in a drive to hold 15 per cent of the nation's vehicle market by 2013 as it recovers from this year's earthquake. Executive Vice-President Hiroto Saikawa disclosed the target as part of a six-year plan yesterday in Yokohama. In the long term, Nissan seeks to boost market share to about 20 per cent, Takao Katagiri, also executive vice president, said at the same round table. In 2010, Nissan's domestic market share was 13 per cent. Japan's automakers are recovering after the record quake and tsunami in March disrupted output and triggered power and parts shortages. Article continues below Nissan expects to resume full production worldwide by October, targeting a 10 per cent increase to 4.6 million global vehicle sales this fiscal year. The automaker aims at domestic sales of 600,000 cars and exports of between 400,000 and 600,000, Saikawa said. Nissan sold 460,000 vehicles in Japan and exported 610,000 in the year ended March. Nissan posted net income of 85 billion yen (Dh4 billion) in the three months ended June 30, beating analysts' estimates. Toyota Motor Corp., the country's largest automaker, raised its full-year profit forecast by 39 per cent and Honda Motor Co., the third biggest, increased its forecast 18 per cent. Compact cars Nissan will introduce 51 models over the next six years as it aims to capture 10 per cent of global luxury-car sales. The models will meet demand for eco-friendly and compact cars, with half targeted at the Japanese market, Saikawa said. The automaker seeks to achieve 8 per cent levels in both global market share and operating profit margin by fiscal 2016, from 5.8 per cent and 6.1 per cent respectively in the year ended March 31, according to a midterm plan announced in June.