Tokyo - Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation announced that today the two companies officially concluded a product supply agreement on Mitsubishi Motors' supply of its mini-commercial vehicle to Nissan on an OEM basis.
Through this OEM supply arrangement based on the basic agreement signed in March of this year, Nissan will source about 20,000 units per year of Mitsubishi Motors' "Minicab" truck and van models.
The mini-vehicle segment currently accounts for about 30% of the total new vehicle market in Japan, and mini-commercial vehicle sales represent about 30% of the overall mini-vehicle market. By further expanding its product lineup across all market segments, Nissan expects to attract new customers to broaden its customer base.
Mitsubishi Motors will be able to enhance productivity significantly by achieving increased economies of scale for mini-vehicles.
Also, Nissan's entry into the mini-commercial vehicle market is expected to advance customers' understanding of and interest in mini-commercial vehicles, thereby serving to energize and expand the market as a whole.
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