Nissan Aiming to Double Share in Saudi Arabia

June 14, 2018

Tokyo- Japan's Nissan Motor Co. has set a goal to double its share in the Saudi Arabian automobile market to 14 pct by fiscal 2022.

The goal is part of a business plan for emerging markets, including the Middle East, Africa and India, announced by the company on Wednesday.

In the Persian Gulf nations, such as the United Arab Emirates, Nissan will aim to boost its share to 20 pct from the current 16 pct.

Annual automobile demand in the Middle East, Africa and India currently stands at around 8.8 million units. The market size is expected to expand to 12 million units in fiscal 2022.

Nissan hopes to increase its share in this region from the current 3.7 pct through the release of electric vehicles and entry into untapped markets.

In a press conference to announce the business plan, Nissan Senior Vice President Peyman Kargar did not give a specific target figure of the automaker's sales volume for this region. But he said Nissan will respond to an anticipated 40 pct expansion of the market, adding he expects the automaker's sales to mark a considerable rise. Jiji Press