Nissan targets to sell 1 million cars over next three years

ATSUGI: Nissan Motor said today it would launch 30 new models by the financial year ending in March 2027 and aim to raise its global sales by 1 million vehicles while cutting costs to improve profitability.

Announcing an update to its medium-term business plan, Japan's third-largest automaker by sales said it would target an operating profit margin of over 6% and total shareholder returns of more than 30% by then.

Nissan was a pioneer in electric vehicles with its all-battery-powered LEAF but its EV efforts have been eclipsed by the likes of US rival Tesla and Chinese leader BYD, including in the world's biggest car market, China.

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The Japanese automaker now aims to have electrified vehicles, which include hybrids, make up 60% of global sales by the end of the decade, up from a goal of 55% released in February 2023.

Faced with cut-throat competition, Nissan and domestic rival Honda Motor this month said they would consider a strategic partnership to collaborate on key components for EVs and other areas.

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Of Nissan's 30 new models over the next three years, 16 would be electrified, it said.

Nissan plans to reduce the cost of the next generation of EVs by 30% to make them comparable to internal combustion engine models by 2030.

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Autos Nissan