Nissan still hopes to achieve double-digit market share in India but the timing is under debate given the carmaker's current performance and market conditions, said Kenichiro Yomura, president of Nissan India.
The local car market is bracing for a second year of falling sales, hit by high interest rates and fuel costs. Nissan held a 1.4 percent share of the local passenger vehicle market at end-February, industry data showed.
"We are reviewing our mid-term plan," Kenichiro Yomura, president of Nissan India, told Reuters. "I don't know. It could be later," he said, when asked if the company was on track to achieve its market share target for India.
Nissan still hopes to achieve double-digit market share in India but the timing is under debate given the car maker's current performance and market conditions, Yomura said.
His comments come after Nissan last month said it would be willing to fall short of its global market share target of 8 percent by end-March 2017 in order to ensure it meets an 8 percent operating profit margin goal for the same period.
Nissan is hoping its low-cost Datsun brand , resurrected after three decades to drive growth in emerging markets, will help its sales in India.
On Wednesday, it said it would begin selling its first Datsun model -- the GO hatchback -- from USD 5,100 in India, where the brand makes its debut ahead of other emerging markets.
GO, whose price will range from Rs 3.12 lakh to Rs 3.69 lakh will compete in India's crowded small-car market, which includes top carmaker Maruti Suzuki 's popular Alto 800 hatchback, which starts at about Rs 2.76 lakh.
"If I just look at it from the initial pricing point of view, it looks pretty competitive," said Abdul Majeed, a partner at PricewaterhouseCoopers India.
Datsun cars will go on sale in Indonesia, Russia and South Africa later this year.
Maruti Suzuki stock price
On March 19, 2014, Maruti Suzuki India closed at Rs 1870.50, up Rs 1.65, or 0.09 percent. The 52-week high of the share was Rs 1899.90 and the 52-week low was Rs 1217.00.
The company's trailing 12-month (TTM) EPS was at Rs 106.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.53. The latest book value of the company is Rs 615.03 per share. At current value, the price-to-book value of the company is 3.04.
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