NISSAN MOTOR COMPANY - Infiniti, the luxury car brand of Nissan Motor Company, Ltd. today officially opened its new headquarters office here, and officials said that the brand is poised to grow more over the next four years than during its history to date.
Nissan President and Chief Executive Officer Carlos Ghosn joined local Hong Kong officials for the ribbon cutting ceremony. The opening of Infiniti's headquarters in Hong Kong is the first time in the brand's history that it has had a dedicated headquarters and is the next step in the growth of the luxury brand.
Infiniti launched its first vehicles on November 8, 1989. Two models were offered, the Infiniti Q45 sedan and the M30 coupe, with sales limited to the U.S. and Canada. Reaction by auto writers to those first models was generally positive, such as the review by then-Chicago Tribune Auto Editor, Jim Mateja: "The Nissan Infiniti looks like a Jaguar, rides and handles like a Mercedes, and is priced more than $5,000 less than a BMW."
The brand embarked on its first expansion outside of North America in 1997 when it established a sales network in Taiwan. This was followed by gradual expansion in other markets such as in the Middle East, South Korea, Russia, the Ukraine, China and Western Europe. Today, Infiniti vehicles are sold in 46 countries and regions.
Recently, Ghosn issued a challenge to the Infiniti team as a part of the Nissan Power 88 mid-term plan. The plan is the company's strategy for the fiscal period 2011 to 2016, and it outlines two significant goals including achieving eight percent global market share and eight percent consolidated operating profit margin on a sustainable basis.
Ghosn's challenge: grow Infiniti fast, but grow it profitably.
According to Andy Palmer, Nissan Executive Vice President and head of the Global Infiniti and Luxury Business Unit, growth will triple between 2012 and 2016.
"Establishing our headquarters in Hong Kong, the gateway to China, is an acknowledgement of the center of gravity in luxury vehicle sales," he said. "Clearly, China has emerged as the center for luxury sales. I don't see that changing anytime soon."
Palmer said that while Infiniti has a solid foundation in North America, more focus is needed to address Infiniti's growth potential in China and Southeast Asia.
"Infiniti's story in China is just beginning," said Palmer. "Just 25 dealerships served the brand and our customers in China last year. Over the next year, more than 100 dealerships are expected to open. And, we will begin producing Infiniti models in China by 2014."