In order to garner higher volumes in the domestic market, Nissan is working on a new small car in the Rs 2-4 lakh range.

This model is likely to compete with Maruti's Alto, Chevrolet Spark and the Hyundai Santro.

“We're seriously studying the launch of a small car below the Micra. We see great opportunity in the small car segment,” said Mr Kiminobu Tokuyama, Managing Director and CEO, Nissan Motor India.

Separately, Nissan is also working on an MPV with joint venture partner Ashok Leyland. To be launched next year, this will compete with the Toyota Innova.

The Japanese automaker is currently gearing up for the launch of its fifth model in the country — the Sunny sedan. To be available at dealers from October, the sedan will initially be sold with a 1.5 litre petrol engine. However, the car which is based on Micra's V platform, will also see a diesel variant later.

Mr Tokuyama said Nissan is looking to triple sales by the end of this fiscal to 40,000 units as it expands dealerships and both the Micra and Sunny gives it higher volumes.

“The Sunny will later be exported to West Asia and Africa. We exported 90,000 units of the Micra since last October, while selling 18,000 units domestically till date,” he said.

Since the launch of the Micra in July 2010 and March this year, the company sold 13,000 units in all. Nissan also sells the X-Trail SUV, Teana premium sedan and the 370Z sports car in India. While all these are imported as built units from Japan, the Micra is built at a plant in Chennai which it runs with alliance partner Renault.

Nissan also expects to export $100 million worth of components to its global production facilities from India this fiscal.

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