Luxury car manufacturer Nissan said that it targets to sell 2 lakh vehicles in India in four year duration. The figure includes the yet to be developed and launched Nissan’s small car.
Currently, the company has X-trail and Teana model in the Indian market, and has plans to launch UV Murano. Nissan has entered into agreement with Hover Automotive India Private Limited to handle its marketing, distribution sales and promotions in India. Nissan will concentrate of leveraging local expertise to build its brand in the country.
The president and CEO of Nissan Motors Company Limited, Carlos Ghosn said, “Nissan has a proven track record to build on collaborative relationships.”
The company is setting up a plant near Chennai with its partner French car manufacturer Renault. The production facility will have a capacity of 4 lakh units per annum. Nissan small car will be manufactured in India for its global market. The company also plans to introduce eight new products over the next five years.
Nissan is also a part of the tri-party venture with Bajaj and Renault to manufacture ultra-low cost small car. The car will rival the world’s cheapest car, Tata Nano. The car is likely to hit the market by 2011, while Tata Nano will hit the roads later this year. The company seems confident to retain the Rs 1 lakh cost till 2011.