Nissan targets 40% market share in Zim

TINASHE MAKICHI

Global vehicle manufacturer, Nissan is looking at increasing its presence in Zimbabwe through increasing its market share to around 40% from the current 32% driven by the introduction of new state of the art vehicle brands in the market, Business Times can report.

Subdued demand for new vehicles has negatively affected investments in the local car industry, as the market continues to be dominated by pre-owned car imports.

There has also been stiff competition among car dealers in the country but Nissan is bullish on increasing its market share.

Amtec Motors managing director Lucas Taruvinga who represented the Nissan Dealership Council noted that lack of a clear motor industry policy has been a challenge in terms of trying to increase the market share.

He also noted that increasing the market share will also be determined by the availability of foreign currency to import new vehicles.

“We are looking at growing the market share further to about 40%.

But however we have challenges of foreign currency as you all know for us to be able to import the vehicles.

Foreign currency being available, we intend to grow the market share as a next milestone,” Taruvinga said.

He further noted that the lack of serious local demand for new vehicles has been a challenge and there was a need for the government to intervene and come up with policies that will stimulate local appetite.

In 2018, the government proposed raising import levies on pre-owned cars to curtail grey imports and create a market for new vehicles.

The proposal entailed gradually hiking duties to narrow the cost between new and used cars.

Between 2009 and 2016, when Zimbabwe was using a multi-currency system, Zimbabweans spent as much as US$4.5bln on second-hand cars, which translates to an average US$566m per year, according to the Zimbabwe National Statistics Agency (ZimStat).

Taruvinga noted that there was room for growth with the coming of the new Nissan Navara which was launched this week.

The new pickup delivers an enhanced level of safety, comfort and driving pleasure, while continuing to bring the durability, reliability and versatility that it is known for. It also benefits from being manufactured in Africa, for African conditions.

“We’re thrilled to announce the launch of this incredible vehicle. This new Navara brings the best of what Nissan has to offer in one package – it’s rugged and tough, smart and offers premium comfort, all at a price that provides customers great value for money,” marketing director for Nissan Stefan Haasbroek said.

Over the many decades since the first Nissan pickup hit the road, the Navara has continued to accompany and empower customers in many facets of their lives.

Building on more than 85 years of Nissan pickup heritage, the new Nissan Navara represents the pinnacle of the company’s experience in building tough, reliable pickups.

A reliable partner for work or travel, the new Navara comes with many best-in-class technologies, including an array of Nissan Intelligent.