Key facts
- Japanese automakers are struggling in China as demand shifts to EVs.
- Toyota's sales in China have fallen for eight straight months.
- Honda has indefinitely postponed the launch of its GT electric vehicle in China.
Japanese automakers are facing a significant downturn in China as consumer preferences shift towards electric vehicles and advanced intelligent-auto technologies, leading to a sharp decline in production of gasoline-powered cars. Toyota, Honda, and Nissan have all reported substantial drops in their sales and output in the Chinese market. Toyota's global sales decreased by 2.9% in September, with a notable 20% drop in China, marking the eighth consecutive month of decline in the region. Honda experienced a 6.5% global sales decrease, heavily impacted by a 53% slump in China, and has indefinitely postponed the launch of its GT electric vehicle there. Nissan Motor reported a 62% decrease in China sales last month, contributing to a 10% global sales decline.