3 Japan Automakers Suffer China Sales Falls in Jan.-June

Economy

Beijing, July 9 (Jiji Press)--Three major Japanese automakers respectively reported new vehicle sales declines in China in January-June, with their combined sales in the six-month period falling 12.9 pct from a year earlier.

The data suggest that the plight of Japanese automakers, known for their strength in gasoline vehicles, is deepening amid the spread of electric vehicles in China.

Toyota Motor Corp.'s new vehicle sales in China in the first half of 2024 dropped 10.8 pct from a year before to 785,000 units. Honda Motor Co.'s sales plunged 21.5 pct to 416,000 units and Nissan Motor Co.'s sales fell 5.4 pct to 339,000 units.

The three automakers all saw their Chinese sales in the first half go down year on year for the third consecutive year.

Japanese automakers used to enjoy a high share in the Chinese market, but the situation changed drastically after EVs began to gain popularity in the country. In recent years, BYD Co. and other Chinese automakers that have taken the lead in EV development have been rapidly expanding their market share, while Japanese automakers have been suffering from a shrinking share there.

[Copyright The Jiji Press, Ltd.]

Jiji Press