Atsugi, March 25: Nissan Motors, a Japanese automobile manufacturer, is popular with its SUVs, sports vehicles, 4X4s, and commercial vehicles in the world. A report said that the company will launch 30 new models in the coming three years to boost global sales. By launching 30 new models, Nissan Motors is said to increase its global sales by 1 million vehicles to improve its profit and cut costs.

Reuters reported that Japan's third-largest automobile company would target an operating profit margin of over 6% by March 2027, at the end of the financial year. The report also mentioned that Nissan Motors would expect over 30% shareholder returns. Nissan Motors posted in its 'third-quarter financial highlights' that it had "3.108 trillion yen" consolidated net revenue for the three-month period ending December 31, 2023. Volkswagen Seeking Tap Demand for Premium Performance-Oriented Vehicles in Tier II and Tier II Cities, Looking To Grow Sale by 15% in India.

The company further stated a consolidated operating profit of "141.6 billion yen", representing 4.6% of the operating profit margin. As per the report by Reuters, Nissan was a pioneer in the EVs with its Nissan LEAF model. However, Nissan's electric vehicle efforts have been eclipsed by rival companies like US-based Tesla Motors and China-based BYD Auto, which are currently the world's most prominent electric car manufacturers.

The report said Nissan Motors expects to gain a competitive edge in the market. It said the company expected an all-battery-powered car to help it about a fifth of its global sales. Vehicles running on its hybrid power system are expected to account for another fifth. The remaining 60% would be comprised of those having only an internal combustion engine.

The report said that the company 'aims to have electric vehicles', which would also include hybrids, to make up 60% of global sales by the end of the decade. According to the report by Reuters, 16 out of 30 models would be electrified, and four would be plug-in hybrids. Citroen Basalt Vision, New Compact SUV Coupe Developed for Indian Consumers, Set To Be Revealed on March 27; Check More Details.

Nissan Motors would reportedly consider reducing the cost of the next-gen electric vehicles by 30%, making them comparable to internal combustion engine models by 2030. Nissan is also expected to launch seven new models for its passenger vehicle segment, eight new energy vehicles in China, and six models in Europe, according to the report. More details will be revealed by the company in coming months and years.

(The above story first appeared on LatestLY on Mar 25, 2024 07:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).