But that may pose a problem. Despite its new focus on style and performance and an ever increasing product portfolio that includes eight new models, most of which are top-profit vehicles such as the Nissan Maxima sport sedan, Murano SUV, Quest minivan, full-size Titan pickup and full-size Pathfinder Armada sport utility, plus the Infiniti G35 Coupe, M45 sport sedan and FX35/45 sport utility, Nissan has underperformed the market in the first quarter of 2003, its own sales falling 5.4% from the same three months last year.
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| Forecasted sales increase of 17% in the US market. (Photo: Trevor Hofmann, Canadian Auto Press) |
Still the company's sales forecast for the current 2003/2004 fiscal year is bullish, with an expected global improvement of 9.7% to 3.04 million vehicles, including a 17% increase in the U.S. much due to new models. And with respect Nissan has a history of conservative sales projections, which adds credibility to their forecast.
Nissan also continues on its profits first path, forsaking incentives that could lead to higher sales volumes even though some of its Japanese rivals are choosing to embrace the controversial North American sales programs - that incidentally originated with the Big 3 domestic automakers.
Reuters also reported yesterday that Nissan will be seeking shareholder approval to buy back up to 1.7% of its outstanding shares, which could result in a repurchase of up to 75 million shares equal to 100 billion yen (1.15 billion CAD).
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| Bold forcasts and aggressive stock buyback make Nissan one to watch in the coming year. (Photo: Trevor Hofmann, Canadian Auto Press) |
This aggressive buyback further shows that the Japanese automaker's bold sales forecast amid a fluctuating auto market is no smoke screen to lure in investors. Once again, Nissan will be the one to watch for throughout the coming year.