Nissan has launched its newest model concept, EXTREM, at the 2012 Sao Paulo International Motor Show. Brazil is considered to be one of the largest new car markets in the world and Nissan sees a lot of growth there. Sales in Brazil has doubled from 2010 to 2011 and feels that with the new concept, growth will more than double in the next year. With the cities young professionals who care to make a personal statement, Nissan believes that this new sleek design will appeal to this particular crowd. Carefully designed, Nissan believes that the Brazilian market will dash to get this deal.
Senior Vice President and Chief Creative Officer with Nissan states that this concept would “appeal to the country’s growing band of city-based young professionals who are passionate about design and want to make a personal statement.” Scott Piper, PM for Excel Latin America Fund, stated on our last conference call that people are moving up in their wage gains. Unemployment is decreasing along with informal jobs, and as formal jobs are increasing, it will lead to people needing credit or banking products for mortgages, car loans, etc. The outlook is attractive. Taxes are falling to promote income, the government is spending on infrastructure, the growth will increase 2.5% from last year. The consumption is very strong, therefore, it is beneficial to stay put and take part in the growth of our Latin America Fund.
Written by: Melissa W.