Japan Automakers Boosting Output in Promising China Market

Economy

Tokyo, Nov. 23 (Jiji Press)--Major Japanese automakers are increasing their vehicle production capacities in China, expecting further growth in the world's largest auto market over the medium to long term.

The automakers have lost no confidence in the market although new vehicle sales in China are forecast to log the first drop in 28 years in 2018.

Last year, new vehicle sales in the country hit a record high of 29 million units.

But sales fell for the fourth straight month in October this year due to negative effects of the U.S.-China trade war, such as stock price falls.

"The turmoil caused by the trade friction seems temporary. The market is projected to continue growing moderately," a senior Japanese automaker official said, far from pessimistic about vehicle demand there.

[Copyright The Jiji Press, Ltd.]

Jiji Press