Question

Answer the following question into 250 words:
Which stage of the product life cycle is the Nissan LEAF is right now? Explain

Answer 1

A product life cycle has four stages

• Market introduction
• Market growth
• Market Maturity
• Sales Decline

Nissan Leaf is in the Sales Decline stage in the United States. It has sold 300000 Nissan LEAFs since its launch. It is a product for the mass market. It is the best selling Electric Vehicle in the World. Only Tesla has models that have sold a higher number of units in the last year. It has a wide reach, and, is the most advanced car in the world.

The US sales reached 30000 units in 2014, and, was only about 11000 in 2017. The numbers were 17000, and, 14000 in 2015, and, 2016 respectively. The product turned profitable in 2014 with 80% of the sales in the United States. In terms of the number of sales for any firm, the numbers are high. The products are preferred when it comes to an Electric Vehicle. Only Tesla models have had a higher number of sales, in North America, and, Europe. Tesla has a large number of reservations for Model 3. The second generation Nissan LEAF is expected to provide an even better experience. it can lead to an increase in revenue but the organization has reached a Sales Decline stage despite market growth for the Electric Vehicle product. As the total number of units sold increases for electric vehicles, the firm can again go into the Market Growth stage.