Automakers looking for growth have pretty much given up traditional markets like North America and Europe. Instead, they’re going to places like Russia, China or India to really push their wares. Problem is, most countries have their own local and cheaper producers which already have a significant market share.

Nissan though is thinking smart: not only does it want to “source Maruti-Suzuki’s yet-to-be-launched compact ‘A-Star’ for selling in the European marke”, it also wants to produce a low-cost alternative to Tata’s Nano. While the rebranded A-Star will be made by Maruti-Suzuki, Nissan’s Nano competitor will likely be produced by Bajaj, a company better known for its two-wheelers.

Nissan Motor’s India Director, Mr. Neeraj Garg insists new but higher priced imported sedans and SUVs are scheduled for India’s booming auto market, a low-priced hatch is also on the wishlist if the pricing is right. Company officials say that the low-cost transportation could be among six new products scheduled for India by 2012, and with the country’s low-cost labor, Nissan/Renault could also export any vehicles it makes there. [Times of India]