To strengthen its foothold in the Indian market, Japanese auto major Nissan Motor is planning to add four new passenger car models in the next financial year to its current portfolio of six models - Micra, Sunny, Evalia, X-Trail, Teana and 370Z.
The new launches would include a compact SUV, which is expected to be rolled out in the later part of the next fiscal, Takayuki Ishida, managing director and chief executive officer of Nissan Motor India, said, adding it planned to launch Datsun, its entry-level car at sub-Rs 4 lakh in the first half of 2014.
The company plans to launch 10 new models and expects a 10 per cent market share in the Indian automobile market by FY16.
“Since our entry into the Indian automobile industry two-and-a-half years ago, we have gained 1.6 per cent market share. With the 10 models, we expect the volume to come from across the segments and help in gaining a good market share,” he said. It will expand its dealer network to 300 by FY16 from the current 95.
Nissan is looking at closing the current fiscal by selling 50,000 units, with around 50 per cent increase in sales compared with last year, and is targeting to sell 100,000 units by the next financial year.
Renault-Nissan has a manufacturing plant in Chennai with a manufacturing capacity of 400,000 units. Nissan and its parent Renault have jointly invested Rs 4,500 crore in the plant.