Aiming 10% market share in India: Nissan's Andy Palmer

Nissan's chief planning officer, Andy Palmer says the company's India business has grown some 140 percent in revenues in the last one year.

Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share

Andy Palmer

Chief Planning Officer

Nissan

In his own words he is the product access for Nissan. That makes Andy Palmer responsible for corporate and product planning, program management and sales and marketing performance at a global level. Nissan's Chief Planning Officer, who is in India this week for the launch of a re-vitalised Sunny , is quite optimistic about the Indian market.

In an exclusive chat with CNBC-TV18's Menaka Doshi,Palmer says the company's India business has grown some 140 percent in revenues in the last one year and expects to double its market share in FY15 as well.

Below is the transcript of interview of Andy Palmer with CNBC-TV18's Menaka Doshi.

Q: What do you make of the slight turn around that we have seen in the auto industry and in auto sales in the last month or so here in India, what is your outlook for what India can deliver as a global growth spot?

A: Clearly we see India as a growth opportunity and we have for a long time. Obviously that is the reason that we built a very significant factory in Chennai not only anticipating the ability to export from Chennai but also the growing domestic requirements and we see more and more of the capacity in Chennai being used for domestic production.

We were disappointed to see the slowdown of the economy and obviously that created for us a negative total industry volume which of course is a little bit of a headwind. The economy struggled.
We have been lucky. Particularly in the first quarter of the last financial year the last three months we have seen partially with the new products, partially with annual distribution network but partially an underlying recovery of the economy perhaps driven and helped by the change of government in India we have seen some revitalisation and actually in comparing this last quarter to the same quarter a year ago Nissan Motor Corporation has grown by 142 percent which bucks the trend and is testament not only to the strategy but also gives very good signs of an underlying recovery in the Indian economy.

Q: Given this optimism are you revising your market share and revenue targets for India through the course of lets say this financial year so can you give us a sense of what or where you expect India to deliver in terms of both market share because it is still a very miniscule market share for Nissan here and in terms of revenue as well?

A: We are running at the moment at about 2.2 percent market share. Our longer term ambition is 10 percent market share. Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share. So we need to keep that kind of trajectory and with the products that I see coming down the pipeline and in particular with the social changes that are happening with the younger generations in India I am very optimistic that the brands of Nissan and Datsun, maybe Infiniti in the future, but Nissan and Datsun have a real place in society here and our long term goal of 10 percent market share and to be very much a part of the Indian society that is why we invested so much in the people and do our own R&D here.

For the complete interview watch the accompanying videos

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