Nissan, Japan’s second- largest carmaker, may accelerate plans to expand in Brazil after Latin America’s biggest automobile market decided to scale back imports from Mexican factories, according to Bloomberg.
Nissan’s increased urgency to add production in Brazil, where the company plans to spend 2.6 billion reais ($1.4 billion) quadrupling annual capacity by 2014, after Mexico agreed to cut exports to the country by as much as 30 percent for the next three years. Sales of light vehicles in Brazil, which overtook Germany in 2010, may climb to 3.8 million units by 2014, according to estimates at Macquarie Group (MQG) Ltd.
Under a six-year plan disclosed last year, Nissan plans to raise its global market share to 8 percent by March 2017, compared with 5.8 percent in March 2011. The plan includes a goal to grab about 10 percent of global luxury-vehicle sales by tripling sales of Nissan’s Infiniti vehicles to 500,000 units.