Nissan has big plans for the Chinese market. The Japanese automaker is aiming to raise annual sales in China 70 percent to more than 2.3 million vehicles by 2015.
To meet this very lofty goal, Nissan will be investing the equivalent of billion in the country, along with local partner Dongfeng Motor Co., Ltd. Nissan will begin adding 1,000 dealerships in the world's largest auto market to sell its 30 models to Chinese consumers.
“We have today about 6.2 percent market share in China and we know we have a shortfall in terms of supply–we cannot provide as many cars as the market is demanding,” said Nissan CEO Carlos Ghosn. “I would say the pent-up demand on our product today is above 7 percent already. We want to reach 10 percent.”
The first of five models from Nissan's China-only brand Venucia will be introduced next year, as the new nameplate targets annual sales of 300,000 within five years. Eventually, Nissan will sell electric vehicles in China as well.
“We can introduce the technology, we can introduce the zero-emission cars, and we can introduce them in the best way possible to make them competitive,” Ghosn said.
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