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The automobile industry had grown globally manifolds since 20th century. Matured economies such as US, Japan and parts of Europe were the crucial markets in the automobile industry during the 20th century. Rapid growth in the BRIC economies and saturation of markets such as US and Europe in the late 20th century had moved the automobile companies towards the developing Asian countries such as India and China. Leading automobile manufacturers had also set up manufacturing plants in the developing countries to meet the local demands of the consumers and enjoy the benefits of low production cost. Skyrocketing oil prices and environmental concerns had increased the demand for fuel efficient and hybrid cars in the early 21st century. Global automobile industry had evolved over a century and had undergone several restructuring, transitions and had overcome several challenges. It had been expected that in the coming years (2011-2020) there would be a rapid growth in the global automobile industry especially in the emerging markets such as Thailand and Indonesia. In this backdrop, Nissan, one of the leading Japanese automakers, announced a mid term plan in 2011 named Power 88 plan. As per the Power 88 plan, the company intended to enhance their market share from 5.8% in 2010 to 8% by 2016. It had also aimed to increase their operating profit margin to 8% by 2016. The case study analyses the current trends of the global automobile industry, growth and turnaround of Nissan and whether it would achieve their targets as expected amidst challenges in the global automobile industry.