Nissan Aims to Boost Global Output 16% This Year

Nissan Motor Co. plans to produce 5.6 million vehicles worldwide in the fiscal year that began April 1 compared with 4.8 million units in the previous year, according to The Nikkei.

The newspaper, which doesn't cite its sources, says the plan is part of Nissan's goal of hiking its global market share to 8% in the fiscal year ending in March 2017. The target equates to sales of about 7.6 million vehicles.

The company's factories already are operating nearly full capacity, according to The Nikkei. Nissan intends to run its overseas plants especially those in China, Mexico and the U.K. on overtime, weekends and holidays to meet its production target, according to the newspaper. It says the company has notified major suppliers of its plans.

Nissan's shared production agreements with Daimler AG and alliance partner Renault SA also will help overcome the capacity shortfall. By about 2014, Nissan is scheduled to open new factories in Brazil, Indonesia, Mexico and the U.K.