Nissan India terminates agreement with Hover Automotive
Mumbai, February 14, 2014: Nissan announced today that its Indian subsidiary â€“ Nissan Motor India Private Ltd (NMIPL) â€“ has assumed full responsibility for the sales, marketing and distribution of all Nissan-branded vehicles and parts in India, with immediate effect from February 14, 2014.
Nissan stated that its agreement with Hover Automotive India Pvt. Ltd. for exclusive sales, marketing and distribution of Nissan branded vehicles and parts in India has been terminated.
Further details about the business structure will be announced in due course.
Kenichiro Yomura, Nissan President, India Operations, said: â€śNissan is now at a point of maturity in India where the time is right to establish our own marketing and distribution operations. Nissanâ€™s priority will be to ensure a smooth transition from current operations. We remain committed to our customers and will continue to deliver high quality products and services.â€ť