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Nissan Motor Co., Ltd., took another step toward strengthening its presence in India with the official start of operations at Nissan Motor India Private, Ltd. (NMIPL), its wholly-owned subsidiary in Mumbai.
NMIPL, which was established in February, is capitalized at 42 million rupees ($960,000). The company is responsible for the importation of Nissan vehicles and spare parts, as well as the sales, marketing, distribution and aftersales support of Nissan’s products in India. The company has 11 employees.
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“We see great potential for Nissan in the Indian market and expect India to be one of the key contributors to Nissan’s growth in the future,” said Yoshie Motohiro, managing director of NMIPL and the first female executive at Nissan to head a regional subsidiary.
Nissan has identified India as one market in which it plans to increase its presence under the company’s new three-year business plan Nissan Value-Up announced on April 25.
Under that plan, Nissan has also committed to maintaining the top level of operating profit margin among global automakers, to achieve global sales of 4.2 million units during fiscal year 2008 and to maintain an average 20% return on invested capital during the course of the plan.
In other news, Nissan announced the opening of its first dealer showroom in Mumbai whose look and feel is consistent with Nissan's brand identity around the world. Nissan currently has five independent dealers in India, one each in Mumbai, Chennai, New Delhi, Bangalore and Hyderabad. The Bangalore and Hyderabad dealers started their Nissan business in May.
Nissan entered the Indian passenger car market in August 2004 with the launch of its award-winning X-TRAIL compact sport utility vehicle (SUV). The model sold over 130 units last fiscal year ended March 2005. In fiscal year 2004, India’s total vehicle sales, including trucks, grew about 25% to 1.34 million units.
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