Toyota Motor, Nissan Motor and Honda, the major Japanese automakers, all recorded double-digit declines in new-vehicle sales in China in August. As price-cutting competition among Chinese EV makers intensifies, demand for Japanese gasoline-powered vehicles is weakening.
All 3 major Japanese automakers, Toyota Motor, Nissan Motor and Honda, posted double-digit declines in new-vehicle sales in China in August. The companies announced their August sales together, once again highlighting trends in the local market.
Price-cutting competition for electric vehicles (EVs) in China is intensifying, strengthening the trend of demand shifting toward EVs that are perceived as offering better value. Reports suggest that sales of gasoline-powered vehicles, the mainstay of Japanese automakers, continue to struggle as a result.