Nissan Motor Co., Ltd. announced new mid-term plan named "Nissan Power 88" in Jun 2011.
"Nissan Power 88" is a wide-ranging, six-year business plan that will accelerate the company's growth across new markets and segments, for fiscal years 2011 to 2016.
The name of the plan emphasizes key corporate goals: Nissan will renew its focus on the overall customer experience through actions that elevate its brands' power and sales power. By the end of fiscal 2016, the company will aim to achieve a global market share of 8% and increase its corporate operating profit to a sustainable 8%.
Highlights of Nissan Power 88 reflect Nissan's clear, global vision and strategic direction through fiscal 2016:
Nissan Power 88 identifies six strategies as levers we will use to achieve results according to plan. The six strategies are as following.
To strengthen Nissan's brand power, we will expand our strengths in engineering and production to the sales, marketing and ownership experience. We will raise the level of interaction with our customers to create a world-class standard of service that will help us build lasting relationships with every Nissan car owner.
Sales power in the midterm plan refers to fully grasping the needs of customers in each market and drastically raising sales volume and market share.
Nissan aims to make steady progress in improving product quality. During Nissan Power 88, our aim is to raise Nissan into the top group of global automakers in product quality and to elevate Infiniti to leadership status among peer luxury products by fiscal 2016.
Nissan will take the lead as the all-time volume leader in dedicated electric vehicle sales. The Alliance is bringing seven more all-electric models to follow the successful launch of Nissan LEAF. Nissan's EV lineup will include a light commercial vehicle and an all-electric premium car, to be launched by Infiniti in 2014.
The fifth pillar of our plan relates to our strategies for business expansion.
In 1999, Nissan's global market share was 4.6%. In 2010, Nissan achieved a record 5.8%.For FY2016, we are targeting 8%.
Growth in any market is not possible without a high level of cost competitiveness, so the sixth pillar of our plan is cost leadership｡Since we implemented the Nissan Revival Plan, we have been successful in reducing costs by 5% annually, due mainly to our cross-functional monozukuri activities involving our supplier base.