Japan’s Big Five Suffer Setback in China: August Car Sales Plummet Below 2023 Figures

The number of units sold in China by major Japanese automakers in August was lower than the same month last year for all five companies selling locally.

Sales in China in August announced by major Japanese automobile manufacturers include Toyota’s sales of 152,065 units, a 13.5% decrease compared to the same month last year, Honda’s sales of 44.3% to 57,091 units, and Nissan’s sales of 24.2% to 49,204 units. All five companies selling in China were below the same month last year.

The main reason is that price competition for EVs and electric vehicles, which are currently being distributed in China, is intensifying, which has also had an impact on Japanese cars, which mainly sell gasoline cars and hybrid cars.

Due to struggles in the Chinese market, global sales decreased for 6 out of 8 manufacturers.

Among these, Toyota Motors decreased by 3.1%, and domestic sales decreased by 9.1% due to the suspension of production of three models that were found to be fraudulent in government certification tests.

Meanwhile, sales in the United States, the main market for Japanese manufacturers, exceeded the same month last year for five of the six manufacturers selling locally due to solid demand for hybrid vehicles, so the focus is on how much they can compensate for the decline in sales in the Chinese market. no see.