Nissan Motor Co. Ltd.
) reported a massive 335% increase in sales of its hatchback
electric car LEAF in U.S since the launch of the 2013 model in
Mar 2013. LEAF has been Nissan's bestselling car in Seattle,
Portland and San Francisco. Alongside, the company also witnessed
burgeoning demand for electric vehicles outside the traditional
West Coast market, i.e., in "New Wave" markets across the
Nissan's LEAF has won popularity in the West Coast due to state
tax incentives, access to High-Occupancy Vehicle (HOV) and
High-Occupancy Toll (HOT) access, and environmental
consciousness. Moreover, people in the region started using
electronic vehicles even before Nissan launched it for the
The 2013 LEAF is similar to Nissan's other vehicles like Altima
and Maxima. It features 240V charging, which makes it two times
faster than the previous model. Customers are opting for LEAF
over the gasoline counterparts due to its efficient charging
Nissan expects incremental demand for electric vehicles in
diverse markets and LEAF is expected to dominate the market
share. With more than 75,000 LEAF electric cars on the road,
Nissan emerged as the global leader in zero emission vehicles.
Nissan has witnessed 8.5% year-on-year growth in sales so far
this year. The increase was driven by record-breaking U.S.
monthly sales in 4 out of 7 months. The biggest contribution came
from year-over-year increase in the sales of Nissan LEAF and a
surge in the sales of the redesigned Pathfinder SUV.
Apart from the U.S., Nissan is also doing well in other parts of
America. The company witnessed 7.5% sales growth in Mexico
in the first seven months of 2013. Moreover, it plans to open new
manufacturing facilities in Aguascalientes, Mexico and Resende,
Nissan Motor is one of the largest automakers in the world. The
company, along with its subsidiaries, engages in the production
and sale of automotive products, industrial machinery and marine
equipment, primarily in Japan, North America, and Europe. It
manufactures passenger cars, trucks, buses, forklifts, light
commercial vehicles, power trains and parts, and also offers
sales financing activities.
Nissan currently carries a Zacks Rank #1 (Strong Buy). Other
companies in the foreign automobile sector that are worth
Fuji Heavy Industries Ltd.
). Fuji and Volkswagen carry a Zacks Rank #1 (Strong Buy), while
Peugeot carries a Zacks Rank #2 (Buy).
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