VEHICLES SECTOR
Nissan forced to look beyond North America to grow sales
Japan’s second-largest vehicle maker eyes expansion in China, Africa, the Middle East and India
Yokohama — Nissan Motor said on Wednesday it expected vehicle sales in some markets to beat industry growth, driven by countries including Saudi Arabia, crucial for the firm that is struggling with slowing sales in the US. Nissan, Japan’s second-largest vehicle maker, focused on the US for the past few years and roughly doubled car sales there since 2010, as it aimed to corner a 10% share of the market. But that ambition came at a cost: hefty discounting led to the company’s North American operating profit falling by nearly a third in the year just ended. Nissan is looking to China and regions such as Africa, the Middle East and India to boost growth while trying to improve profitability in North America. Moreover, the company is entering new markets including Pakistan and Turkey and plans to expand its affordable Datsun brand, Peyman Kargar, chairman of Nissan’s operations in Africa, Middle East and India, said. "Today we have 3.7% market share [in the region]. The industry sees a ...
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