Leading Japanese automaker nissan Motor is getting ready to exit the indian market because it is unable to handle a decline in sales and growing production expenses. nissan may stop making cars in india, according to a recent claim in Japanese media. Nevertheless, the business has not yet confirmed this.
As part of cost-cutting measures, fewer manufacturing and assembly facilities are reportedly planned. Renault declared in april that it would buy the remaining 51% of Renault-Nissan Automotive india Private Limited. At the moment, nissan owns the majority of the business. Renault will acquire complete ownership of the manufacturing facility with the purchase of 51% of the shares.
In india, nissan is producing fewer cars. At the moment, Nissan's tamil Nadu manufacturing facility only produces nissan Magnite. nissan will have to pay more to make cars now that Renault has acquired the manufacturing facility. Nissan has so far invested 550 million euros (52,000 crore rupees) in its indian manufacturing facility.
In the eagerly awaited indian market, nissan suffered greatly from a decline in sales and competition from electric vehicles. According to reports, it would be producing an electric SUV, a seven-seater MPV, and a compact SUV for the indian market.
Global cost reductions of 500 billion yen (about Rs 28,000 crore) are the company's goal. 20,000 workers will be let go globally as part of this. Argentina, South Africa, Mexico, and two plants in japan will all close. By 2027, there will be 10 manufacturing facilities worldwide, down from 17. In the most recent fiscal year, Nissan's operational profit dropped 88% to 698 billion yen ($472 million).
Netizens comment that, indian economy is crumbling and the ruling party is busy with religious politics instead of focusing on the development and welfare.
As part of cost-cutting measures, fewer manufacturing and assembly facilities are reportedly planned. Renault declared in april that it would buy the remaining 51% of Renault-Nissan Automotive india Private Limited. At the moment, nissan owns the majority of the business. Renault will acquire complete ownership of the manufacturing facility with the purchase of 51% of the shares.
In india, nissan is producing fewer cars. At the moment, Nissan's tamil Nadu manufacturing facility only produces nissan Magnite. nissan will have to pay more to make cars now that Renault has acquired the manufacturing facility. Nissan has so far invested 550 million euros (52,000 crore rupees) in its indian manufacturing facility.
In the eagerly awaited indian market, nissan suffered greatly from a decline in sales and competition from electric vehicles. According to reports, it would be producing an electric SUV, a seven-seater MPV, and a compact SUV for the indian market.
Global cost reductions of 500 billion yen (about Rs 28,000 crore) are the company's goal. 20,000 workers will be let go globally as part of this. Argentina, South Africa, Mexico, and two plants in japan will all close. By 2027, there will be 10 manufacturing facilities worldwide, down from 17. In the most recent fiscal year, Nissan's operational profit dropped 88% to 698 billion yen ($472 million).
Netizens comment that, indian economy is crumbling and the ruling party is busy with religious politics instead of focusing on the development and welfare.
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