Nissan to re-enter ‘rapidly growing’ Pakistan market
TOKYO (AFP) - Japan’s second biggest automaker Nissan said it will return to the market in Pakistan after five years, saying the country had a fast-expanding appetite for cars.
Nissan Motor exported cars for assembly in Pakistan from late 1996 until 2000, when it pulled out due to political uncertainties and a market perceived to be lacklustre, a company official said.
However, by Nissan’s figures, the market there has since boomed, with nearly 115,000 vehicles sold in Pakistan in 2004, up 51 percent from 2003 and more than triple compared with 2000.
“We are very excited to be part of the rapidly growing automobile market in Pakistan,” Yasuaki Hashimoto, vice president of marketing and sales for overseas markets, said in a statement.
Nissan Motor said it will export from Japan four models for sale in Pakistan — the Sunny and Cefiro sedans and the Patrol and X-Trail sports-utility vehicles.
Nissan’s initial sales target in Pakistan will be a modest 100 vehicles a month.
Pakistan has shown signs of coming out of a decade of economic doldrums with 6.4 percent growth last year. Prime Minister Shaukat Aziz has forecast growth will rise to 7.0 percent this year.