Zhengzhou Nissan Conversely Expands Light Commercial Vehicles

In response to the sluggish growth in the light commercial vehicle market, Zhengzhou Nissan opted for a high-speed expansion strategy. The second factory of Zhengzhou Nissan Motor Co., Ltd. officially broke ground in Zhengzhou, marking a significant step forward in its development plan. According to the company's mid-term strategy, Zhengzhou Nissan aims to double its annual production and sales from 50,000 units this year to 100,000 units by 2010, with a target of surpassing 200,000 units by 2012. The first phase of the new plant involved an investment of RMB 1 billion, with contributions from Dongfeng, Dongfeng-Nissan (China), and Nissan in the proportions of 51%, 28.651%, and 20.34%, respectively. Once completed in 2010, the new facility will bring total annual production capacity to 200,000 vehicles when combined with the existing plant. As part of Dongfeng Limited’s “13” medium-term business plan, Zhengzhou Nissan is expected to launch at least five new light commercial vehicle models from both Nissan and Dongfeng by 2012. Zhengzhou Nissan became a member of Dongfeng Limited in 2005. It achieved its first milestone of over 20,000 units in annual sales in 2005, reaching 30,000 units in 2006 and 40,000 units in 2007. This year, it is projected to reach 50,000 units. However, since 2006, the growth of light commercial vehicles has been on a downward trend. According to industry data, cumulative sales growth for commercial vehicles in the first eight months of this year fell 3 percentage points compared to the same period last year. This marks the third consecutive month of declining growth, with the cumulative growth rate dropping for seven months straight. The pressure on commercial vehicle sales remains intense. For Zhengzhou Nissan, which focuses heavily on the light commercial vehicle segment, the biggest challenge comes from numerous small domestic competitors. Price fluctuations, thin profit margins, and rising costs due to technology upgrades and raw material price hikes have made the market even more competitive. "We try to use domestic equipment to keep light commercial vehicles affordable. Compared to passenger cars, light commercial vehicles require even stricter price competitiveness," said Nakamura Honda, President of Dongfeng Limited.

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