Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new ...
REUTERS: Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters.
The plan also aims to cut competition and expand cooperation with alliance partners, the people said. Nissan will follow Mitsubishi Motors Corp in plug-in electric hybrid vehicle technology, with the smaller peer taking the lead in Asian markets outside China and Japan. France's Renault SA will likely focus on electrical vehicle technologies and Europe.
The plan is likely to take up to two weeks to be finalised, with sales and earnings targets complicated by the anticipated long-term impact on auto sales of government measures worldwide taken to stop the coronavirus outbreak, the people said. Nissan will try to maintain a presence in Europe through stepped up efforts with its Qashqai and Juke crossover sport-utility vehicles . In Asia, it plans to further expand sales in Thailand and the Philippines which, with Australia, generate roughly 90 per cent of sales and profit in the region excluding China, Japan and India.
Under the plan, the Yokohama-based automaker aims to remain in the US market where it is tasked with eliminating the perception of being a bargain-basement brand. Though its North America sales have grown, its operating margin has narrowed.
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