MAKUHARI, Japan, Oct 22 (Reuters) - Nissan Motor Co President Carlos Ghosn said on Wednesday he wants his company's European operations to achieve an operating profit margin comparable to that of a "good" local player, which he said was roughly five percent.
"Our objective is to be as good as any good European company in Europe," he told a small group of reporters at the Tokyo Motor Show.
The European market has always been tough for Japanese auto makers due to the presence of strong local brands and low volumes in a fragmented market.
Nissan's operating margin in the region was just 2.2 percent last year, although that is still better than that of its bigger Japanese rivals Toyota Motor and Honda Motor , which don't have the benefit of a local capital alliance as Nissan does with France's Renault .
Nissan has already cleared its target of an average eight percent operating margin two years ahead of schedule. In the six months to September 30, the margin reached 11.3 percent -- the highest in the industry.