In a bid to tap India’s growing small car market, Japanese carmaker Nissan Motor Company is looking to come up with 3 to 4 compact cars in the sub Rs 5 lakh category in the market in the next 3 to 5 years. It is to be noted that Nissan sells its hatchback Micra in India. Of late auto makers in the country have been witnessing decline in sales because of increased price in fuel prices and high interest rate.
Because of abysmal conditions of Indian roads, compact cars are being preferred over large cars. Several compact cars have tasted success in the Indian market, thereby increasing the importance of compact cars in the manufacturer’s portfolio. By 2013-14, Nissan may come up with a compact car on K2 platform which may be priced at Rs 3-4 lakh. Soon after this, the company also plans to launch another cheaper small car which will be priced at Rs 2-3 lakh. The car will be designed by Defiance, the engineering arm of Hinduja Group.