Nissan Aims High with 'Power 88' Rapid Expansion Plan
Nissan, in a move that could either be considered daring or absolutely insane, has outlined a strategy that would bring a new car to the market every six weeks and triple Infiniti sales by 2016 among other objectives. Dubbed the Nissan Power 88, the name emphasizes Nissan’s goals of bringing its global market share to eight percent and sustaining an eight percent profit margin per vehicle. Currently, Japan’s second-largest carmaker has 5.8 percent of the world’s new car market. Mapped out in the business strategy and effective immediately, Nissan plans to have 66 vehicles in its global portfolio accounting for 92 percent coverage of the world’s various automotive segments and markets. The company hopes to gain much of its ground is in emerging markets where rapid growth is still possible. Nissan has set the bar at selling 1.5 million electric Nissan and Renault vehicles worldwide, including developing markets, in addition to introducing 90 new technologies over that time — about 15 per year. "Nissan Power 88 is the roadmap for our company's profitable growth," Nissan President and Chief Executive Officer Carlos Ghosn said in a statement. "We will accelerate our growth, bringing more innovation and excitement to our products and services as well as cleaner, more affordable cars for everyone around the world, in line with the energy and environmental challenges of the 21st century." Additionally, Nissan plans to gain as much as 10 percent of the Chinese market by 2016 with the capacity to manufacture 1.2 million cars domestically and expand its reach markets like Brazil with a new plant. Altogether, Nissan hopes to expand its dealer numbers from over 6000 to 7500 by 2016. Ghosn added: “Nissan Power 88 is a demanding business plan, but our company has a proven track record of achieving challenging objectives.” So move over, Quentin Tarantino, there’s a new Crazy 88 in town. Nissan’s ambitions show no signs of slowing down, even in a recession. It will be fun see whether this plan will result in a flourishing portfolio with new cars for the U.S. or a flop of epic proportions if things don’t work as planned. Source: Nissan
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