Nissan’s target of reaching a 10% share of the Chinese market by 2017 will probably have to be put back by a year because the company cannot keep up with the surge in sales in China – its current market share is 6.5%.
Executive vice president Hiroto Saikawa said Nissan expects its sales to grow 7% this year to 1.27m vehicles, some way below the overall market growth which accelerated 24% in October.
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“It is hard to catch up, with the market growing that fast,” said Saikawa, adding that Nissan was still recovering from last year’s territorial dispute between Beijing and Tokyo which saw sales plummet 41% year on year and its market share fall from 8% to below 7%.
Before the dispute, Nissan was planning to open 40 new sales outlets a year and decided to slow down that expansion.
