Japanese auto maker Nissan today announced plans to expand its business in India, Middle East and Africa as part of its mid-term strategy for steady growth and deliver solid profit margins.
In India, the company said it will expand sales network for its two brands, Nissan and Datsun.
As part of a six-year expansion strategy, Nissan aims to build on its strengths in markets, including South Africa, India, the United Arab Emirates, Egypt and parts of sub-Saharan Africa, the company said in a statement.
"Under the Nissan M.O.V.E. to 2022 plan, the company is looking to capture the full potential of the Africa, Middle East, and India region," Chairman of Nissan in Africa, the Middle East and India Peyman Kargar said in a statement.
Nissan has already developed a strong presence within this fast-growing region, and it is well-positioned to maximise its growth and make an increasing and lasting contribution to Nissan's overall performance, he added.
As per the plan, the company intends to use local talent in the region to meet growing vehicle demand.
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According to industry estimates, sales in the region are expected to rise by about 40 per cent to more than 12 million vehicles a year by 2022.
In markets like India, Turkey and Saudi Arabia the company aims to increase the market share during the period.
Specifically in India, the company plans to strengthen its dealership network and develop the power of the Datsun and Nissan brands through various initiatives, including sponsorship of the International Cricket Council.
Currently, Nissan has 272 touch points across 220 cities in India.
Its market share is less then 2 per cent market share in the Indian passenger vehicle market, the fourth largest in the world.