Business / Corporate

In new six-year business plan, Nissan eyes profits over volume

Kyodo

Nissan Motor Co. plans to cut its sales target under its six-year business plan, as the company seeks to focus more on profitability than on chasing volume pursued under the leadership of former Chairman Carlos Ghosn, a source close to the matter said Friday.

The automaker set a sales goal of ¥16.5 trillion ($150 billion) in the fiscal year through March 2023 under the midterm business plan, up from ¥12.8 trillion in the year ended in March 2017.

But Nissan will lower the target to between ¥14 trillion and ¥15 trillion, while it aims to sell about 6.2 million vehicles worldwide during that year.

Nissan will outline the new targets when it releases its latest earnings Tuesday, the source said.

As its U.S. sales remain sluggish, it will not be easy to meet the new targets, the source said.