Japan: No sales target for fiscal 2012 under Nissan's new five-year plan
Wednesday, April 02, 2008, AutomotiveWorld.com
Nissan's chief executive officer Carlos Ghosn has said that the OEM will not set a global sales target for the year to March 2013, under the next five-year business plan (1 April 2008 - 31 March 2013), Thomson Financial reports, citing a report carried by the Nikkei.
Instead of forecasting specific numbers, Nissan intends to "prioritise steady growth year after year," the Japanese business daily states. Ghosn reportedly questioned the viability of such a distant target as well.
Accordingly, the OEM will eliminate goals for profits and a 20% return on investment capital from the plan, as a result of restrictions in its budget and spending in emerging markets. Nissan will, however, continue to maintain targets for free cash flow, the report says.
In late March, Reuters, citing Ghosn, said the OEM expects to beat its sales target for the fiscal year ending 31 March 2008. This was primarily due to a positive end to the fiscal year, with strong sales coming in from the BRIC markets and the Middle East in Q4 of the fiscal year.
Published on Wednesday, April 02, 2008
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