Recently Nissan declared it plans to triple overall sales of its premium Infiniti brand in four years and acquire 10% of the luxury auto market in China.
Tuesday, May 22nd, Infinity opened its headquarters in Hong Kong, being the first global auto brand with its head office in this city. But Infiniti is still considered a latecomer to China, owning about 3% of the country’s luxury auto market. Yale Zhang, the head of Shanghai-based consulting firm Automotive Foresight, considers Nissan’s plans ambitious and challenging.
In order for Nissan to achieve it, the Yokohama-based automaker would have to “aggressively push localization over the coming two to three years and aggressively price locally produced cars,” Zhang said.
In the last fiscal year which ended in March, Infiniti managed to sell 19,000 units in China, not quite comparable with the 300,000 sold by Audi. The majority of Infiniti cars are manufactured in Japan but Nissan plans to shift production to the U.S., China and Europe to boost its sales and avoid foreign exchange risks.
“We need to triple our market share in China,” Ghosn said. “We are investing in order to reach 10 percent market share in each market,” he added.