Japan's Big 3 Move Into New Markets
Carmakers building plants in India, Africa, and Russia as traditional markets slow
By Jim O'Neill,  Newser User
Posted Jun 26, 2008 7:50 AM CDT
Nissan Motor Co. Chief Executive Carlos Ghosn.   (AP Photo/Itsuo Inouye)
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(Newser) – Japan’s automakers, traditionally focused on North America and near-home markets, are expanding aggressively into new territories as opportunities shift to Africa, India, and the former Soviet Union, reports the New York Times. One analyst said 76% of the global growth of the Big Three—Toyota, Honda, and Nissan—in the next 6 years will come from expanding markets that “used to be an afterthought.”

Nissan recently broke ground on its first plant in India—expected to become a megamarket—which will produce 400,000 vehicles annually when completed in 2010. In a talk to shareholders yesterday, CEO Carlos Ghosn noted the economic slump in the US, and said the company would “take full advantage of growth in emerging markets.” Nissan sold 27% of its 3.7 million vehicles in emerging markets last year.