3 Major Japanese Automakers' China Sales Plunge in Aug.
Beijing, Sept. 9 (Jiji Press)--Sales of new vehicles by three major Japanese makers in China fell sharply year on year in August amid continued weak demand for their mainstay gasoline-powered models, according to data released by the firms by Wednesday. Toyota Motor Corp.'s sales fell 22.8 pct to 118,400 units, marking the seventh consecutive month of decline. Nissan Motor Co. saw its sal...
In August, the sales of new vehicles by the three major Japanese automakers in China plummeted compared to the previous year, according to data released by the companies. Toyota Motor Corp. experienced a 22.8 percent decline, recording 118,400 units sold, marking the seventh consecutive month of falling sales. Nissan Motor Co. faced a 51.9 percent drop, selling 28,275 units, marking the fifth consecutive month of decline.
Honda Motor Co. saw a 49.9 percent decrease, with 26,749 units sold, extending a 31-month downtrend. The decline in sales can be attributed to the rising demand for electric vehicles in China, fueled by intense market competition among domestic EV manufacturers. High gasoline prices, a result of tensions in the Middle East, have also spurred demand for electric and other new-energy vehicles. However, the Chinese automobile market continues to struggle due to weak domestic consumption.
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