Nissan Motor India Pvt. Ltd. (NMIPL) has registered 23% growth in production for the yr ended FY23 despite quite a few provide chain points, mentioned MD Rakesh Srivastava.
“FY23 was challenging with supply constraints leading to semiconductor shortages. But as of February 2023, Nissan produced over 83,000 units with a growth of 23%,” he mentioned in an interplay.
According to Mr. Srivastava, in the final two years, the car sector confronted noticed a number of sequential crises, together with scarcity of semiconductors.
“So, we created a special mitigation plan with a cross functional taskforce working with global teams and supply chain partners to strengthen our supply chain, particularly in terms of semiconductor availability to meet market demand for our product,” he mentioned.
On the availability facet, Nissan additionally confronted challenges in phrases of rising value of commodities, inflation and enter prices.
“Despite these pressures, our price hikes have been far lower than the price increases taken by competitive models as we took multiple initiatives with supply chain partners to manage rising costs,” he mentioned.
At the identical time, to retain prospects, Nissan accorded prime precedence to make sure supply of a top quality merchandise. Besides, automobiles have been delivered on the e-book worth on the time of supply, absorbing all the associated fee will increase.
“Currently, with improved supply, Nissan Magnite has a waiting period ranging from 3 to 8 weeks specific to a variant and colour choice,” he added.
Asked concerning the subsequent yr plan, he mentioned: “We expect consolidation of passenger vehicle demand on the continued recovery of the economy with projected GDP growth of 6.5% for FY24. Consequently, our production target for FY24 will reflect this reality in line with market growth.”
Since the beginning of production in 2010, Nissan has produced over 1.5 million items from the Chennai facility. In FY23, Nissan crossed the export milestone of 1 million automobiles.
“The Nissan Magnite has the unique distinction of being the 1 millionth vehicle, now being exported to 15 countries. The demand for the Magnite is driving the business in domestic and export market. It has crossed the 50,000-unit production milestone,” he mentioned.
According to Mr. Srivastava, the home market will stay a prime precedence for Nissan, even because it plans to strengthen its exports. Nissan Magnite will see introduction of a number of product interventions, together with left hand drive, for export markets reminiscent of Latin America and Mexico.
“In October, it showcased premium sport utility vehicles – X-trail, Qashqai, and Juke. SUVs are currently tested on suitability to Indian driving conditions over various terrains of hills, coastal regions and plains,” he mentioned.
In Feb. ’23, the alliance companions introduced further funding of ₹5,300 crore in the direction of funding in new merchandise and applied sciences.
As per the funding plan, Nissan can be introducing three new fashions, together with two C phase SUVs and one A-SUV in the EV area.
