Japanese auto major Nissan is looking to introduce five models over the next 30 months, as it looks to reboot its operations in the fast-growing Indian car market.
The company, which is selling just one model in the country currently, is planning to drive in two mid-size SUV models (one five-seater and one seven-seater), one electric SUV and a refreshed version of its compact SUV Magnite.
The company has also unveiled the latest version of its premium SUV X-Trail, which will be imported into the Indian market as a completely built-up (CBU) model.
"India is an important market for us, and we will be going in for a product offensive over the next two and half years, between FY24 and FY26," Nissan India President Frank Torres told PTI in an interaction.
He noted that the company is looking at tripling its sales volume in the domestic and export markets by FY26.
"In the next two and half years, we will enhance three times our volume in domestic as well as exports," Torres said.
The company expects to enhance domestic and export volumes to 1 lakh each per annum by the end of FY26, he added.
Torres said the new product range would have a high level of technology and offer a value proposition to the customers.
Last year, Nissan Motor Co and Renault SA announced significant investments in six new models in India.
Torres said the automaker is now also contemplating as to what global models could be considered for the Indian market after FY26.
He admitted that the company has taken time to finalise its strategy for the Indian market.
It currently sells just one model — Magnite — in the country.
"Sometimes you need to take some time to ensure what you really need…we are now in a phase of transformation and implementation of this plan…We think that this is what will give us sustainable growth," Torres stated.
Nissan Motor India MD Saurabh Vatsa said: "I don't think, in India, we are too late because the market is growing and it's not stagnating, it's not plateaued".
"And what is really important is that we have to be very relevant to the consumer and the segment where we go and that's where I think we are now very confident with the product lineup." The SUVs are a strength area for Nissan globally and that's where the automaker is going to play in the Indian market, Vatsa said.
Nissan is also looking to expand its sales network in the country.
"Right now, we have 272 touchpoints…So what we are looking at is that we're going to look at high-growth markets," Vatsa stated.
The company will expand its presence in cities and smaller towns as part of the scalable ramp-up.
The company aims to end the current fiscal with 300 sales outlets, Vatsa said.
Outlining the company's plans to utilise India as an export hub, he noted that Magnite, which is currently being exported to 15 countries, is going to be shipped to 40 nations.
"So, it's going to be one global car from India which is going to go to 40 countries. Now, this is the philosophy, which is coming for the new C-SUVs as well. They will first cater to the very demanding Indian consumer and then of course, because they are already catering to the demanding Indian consumer, they will also be able to cater to the requirements of the other countries," Vatsa stated.
As per the SIAM data, Nissan Motor India exported 12,809 units in the April-June quarter this fiscal, over a two-fold rise against 5,928 units in the year-ago period.
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