Japan's Big 3 Move Into New Markets

Japan’s automakers, traditionally focused on North America and near-home markets, are expanding aggressively into new territories as opportunities shift to Africa, India, and the former Soviet Union, reports the New York Times. One analyst said 76% of the global growth of the Big Three—Toyota, Honda, and Nissan—in the next 6 years will come from expanding markets that “used to be an afterthought.”

Nissan recently broke ground on its first plant in India—expected to become a megamarket—which will produce 400,000 vehicles annually when completed in 2010. In a talk to shareholders yesterday, CEO Carlos Ghosn noted the economic slump in the US, and said the company would “take full advantage of growth in emerging markets.” Nissan sold 27% of its 3.7 million vehicles in emerging markets last year. (More Nissan stories.)