Declaring it’s time for the maker to go on the offensive, “instead of restructuring,” Nissan CEO Carlos Ghosn has revealed his new Power 88 plan, which could put it within striking distance of the hobbled Toyota Motor Co.
The new six-year plan is the latest in a series of long-term targets laid out by Ghosn since assuming control of the then-struggling Nissan just before the turn of the Millennium. But short of the original turnaround strategy, Power 88 is arguably the most ambitious laid out by the Brazilian-born executive.
It calls for a huge increase in Nissan’s market share, to 8% within six years, while the maker also targets an 8% profit margin. To help support its ambitious aims, Ghosn promises Nissan will significantly expand its presence in emerging markets, like China, while rolling out at least one new product, on average, every six weeks.
“This is the first time that Nissan is starting a plan on the offensive instead of reconstructing something, or defending something,” Ghosn told reporters at the maker’s new headquarters in Yokohama.