Nissan to launch sports car Z370 by 2010

Nissan to launch sports car Z370 by 2010

Mohali: Nissan Motor will roll out its new sports car ‘Z370’ in India in 2010 as part of its strategy to offer more variants to customers.

“Nissan will launch its sports car Z370 in the Indian market and is expected to be rolled out in January 2010," Hover Automotive India (marketing partner of Nissan, India), vice-chairman, G M Singh told reporters today during the launch of new dealership here.

“Though the market for sports car in India is limited now, but we think over a period of time, the market for such cars will increase," he said.

The company will also unveil its small car Micra hatchback on new platform in 2010 in the Indian market. “Micra will come out with three variants of petrol and diesel...moreover, it will be developed entirely on a new platform," he said.

The price range of Micra could be close to Rs5 lakh, he informed. Nissan has planned to introduce nine new variants in India by 2012. “Out of the nine models, five of them will be manufactured in its facility that is coming up in Chennai, while, rest of them will be completely built units (CBU)," he said.

At present, Nissan has two models ‘Teana´ and ‘X-Trail’ for the market, priced between Rs21 and 25 lakh.

Nissan is hoping to start its new state of the art manufacturing facility entailing capital outlay of $1.4 billion in the first half of next year. Initially, it will have a capacity of 2 lakh units which will subsequently be raised to 4 lakh units per annum.

“The new facility will also be used for exporting cars to Europe and other 100 countries," he said.

Nissan is expecting to achieve sale of 15,000-20,000 units in India after the commencement of facility in Chennai. “We hope to achieve sale of 15,000-20,000 units once the manufacturing facility starts," he said. By the end of this fiscal, the company intends to sell 400 units.

To expand its presence in the country, the company intends to have 26 dealers across the country in the next year. “By the end of the current fiscal, we will have total 19 dealerships and its strength will be scaled to 26 next year," he said.