Nissan Motor to pull back from Europe and some other markets
The “operational performance plan” is due to be announced May 28 and goes beyond fixing problems from ousted leader Carlos Ghosn’s aggressive expansion drive, the sources said.
Pursuit of market share, particularly in the United States, led to steep discounting and a cheapened brand. Under the new, three-year plan Nissan aims to restore dealer ties and refresh lineups to regain pricing power and profitability, the sources said.
“This is not just a cost-cutting plan. We’re rationalizing operations, reprioritizing and refocusing our business to plant seeds for the future,” one of the sources said.
The plan also aims to cut competition and expand cooperation with alliance partners, the sources said. Nissan will follow Mitsubishi Motors Corp. in plug-in electric hybrid vehicle technology, with the smaller peer taking the lead in Asian markets outside China and Japan. France’s Renault SA will likely focus on electrical vehicle technologies and Europe. ■