Nissan enters mid-size SUV market
CLARK, Pampanga – Automotive giant Nissan Motor expects the Philippines to emerge as among its strongest markets in Southeast Asia, capable of putting up sales numbers like those in Thailand and Indonesia.
“I really appreciate the customer acceptance in the Philippines about our models. I think our market share is increasing steadily in a robust manner, so I think Philippines soon will be one of the key markets in our territory. I’m sure,” Nissan Motor Co. Ltd. regional senior vice president Yutaka Sanada said.
Thailand is currently Nissan’s biggest market in Southeast Asia, followed by Indonesia.
“In the coming years, maybe Philippines and Vietnam, these markets could be joining growth teams Thailand and Indonesia,” he said.
Seeing the importance of the Philippines in Nissan’s regional operations, the company has chosen the country as site for the Southeast Asia launch of the new Terra model.
The frame-based Nissan Terra is the first SUV in the mid-size segment for the brand in the Philippines.
“We are confident in our product offering. I think it would be a very strong competitor in the segment and it’s something the customers will like and appreciate as it is perfect for the Philippines from a product and price perspective,” Nissan Philippines president and managing director Ramesh Narasimhan said.
Narasimhan said the mid-size SUV segment is a big market in the country, which is why Nissan’s entry in the segment is expected to play a key role in the company’s growth.
“In the Philippines it’s a very important segment and from a Nissan perspective, we want to be a full-offer brand in Philippines. This is going to add to our growth absolutely because it’s a new vehicle, new segment, so it will drive our growth. But also driving the growth is the existing vehicles that we offer in the market,” he said.
Amid the slump in sales of other automotive brands since the implementation of the TRAIN law this year, Nissan managed to post a 16 percent growth in the first four months with 7,856 units sold during the period.
For 2018, Narasimhan said Nissan expects sales to finish in positive territory.
“We would like to continue that positive growth and with the new products, it makes it even more feasible,” he said.
“In the short term, we don’t have plans for manufacturing facility, we need to watch the industry on the growth and if Philippine manufacturing makes sense. But we never close the door on those things. When the time is right, we will study that if there is such opportunity,” Narasimhan added.
The new Nissan Terra will be available in the market in five variants by August, starting at a price point of P1.499 million.
“The Terra will change the game in the mid-size SUV segment and that it will be the strongest contributor to the business growth of Nissan Philippines in 2018,” Narasimhan said.