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Nissan plans to increase sales by 1 million vehicles within three years to regain momentum and improve profitability. They will launch dozens of new models, including lower-cost electric vehicles, and aim for operating profit margins of at least 6%.
Although the sales target has been lowered from 3.7 million vehicles to 3.55 million vehicles, the company still expects to increase operating profits through cost cutting measures. Nissan’s CEO said the company is taking decisive action to respond to market fluctuations and plans to increase revenue by $16.5 billion through new businesses and launch 30 new models, 16 of which will be electric vehicles.
The company also plans to reduce the cost of next-generation electric vehicles by 30% and strive to achieve cost parity between electric vehicles and internal combustion engine vehicles by 2030.
(Source: Bloomberg Image source: unsplash)
