Nissan reportedly has big plans to turn its ship around globally, and they'll likely include a refocus on core markets at the expense of others. In particular, Nissan will scale back its efforts in Europe big time.
Reuters reported Monday on the first details that will be included in a turnaround plan developed for Nissan. Numerous sources close to the plan spoke on its contents, but the automaker declined to comment on the reported information and told Roadshow it plans to release more information on May 28.
In a nutshell, this plan appears to reverse course on Nissan's aggressive expansion, which former CEO -- and now international fugitive -- Infiniti, already.oversaw. Nissan will reportedly retreat from the Europe and maintain a much smaller presence with a targeted lineup. It's worth noting Nissan's premium division,
With resources freed up, the company will double down on the US, China and Japan and rely on its Mitsubishi, to support it. Renault will focus on Europe, while Mitsubishi will tackle emerging Asian markets with electrified cars. These technologies should support Nissan as it focuses on the US and major Asian markets., France's Renault and Japan's
Overall, Nissan will reduce research and development expenditures, but throw extra resources at the most important countries it does business in. In the US, the automaker will reportedly focus on lifting its image from a bargain brand as it focused on volume growth for years, which decidedly dinged perception. Rental and fleet business will decline and a slew of new cars will soon launch to freshen the brand's rather aging lineup. We know ais on the way and expect an to come soon, too.
Annual global production volumes will likely fall by a couple million units, which may translate to plant closures and shift cuts.
The information underscores previous rumors Nissan began taking a serious look at becoming ain the past month to secure its future. One source told Reuters this plan, which still needs finalizing, will "plant seeds" for future success.