X

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

(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. (Read more Nissan stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.