started · updated
Japanese automakers face shifting market shares amid China slump
Major Japanese automakers are experiencing significant shifts in global market rankings due to diverging regional demands. Suzuki Motor Corp. has overtaken Honda Motor Co. to become the second-largest Japanese automaker by global sales for the April to September period, driven by strong performance in the Indian market.
In contrast, Toyota Motor Corp. reported its first decline in global sales and production in two years. While Toyota saw growth in North America and Europe due to high demand for hybrid vehicles, its sales in China fell by approximately 20 percent, marking eight consecutive months of decline. The slump in China is attributed to rising gasoline prices and intense competition from local electric vehicle manufacturers.
Other Japanese manufacturers are also facing challenges in China. Honda and Nissan have seen substantial production and sales decreases in the region. Specifically, Honda's production in China has dropped significantly compared to its 2020 peak, and Nissan's sales in the Chinese market have seen steep monthly declines. Despite these regional struggles, Toyota's global electric vehicle sales rose by over 120 percent compared to the previous year.
Entities
China · Honda Motor Co. · Japan · Nissan Motor Co. · Suzuki Motor Corp. · Thailand · Thailand Automotive Industry Federation · Toyota Motor Corp. · Toyota Motor Corporation
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Suzuki's growth was driven by the Indian market, where it holds a 40 percent share of the passenger car segment. www.soldionline.it
- [● 2 SOURCES] Toyota's global sales fell by 4.0 percent to 5,059,000 units during the first half of the fiscal year. kahoku.news · response.jp
- [● 3 SOURCES] Suzuki Motor Corp. surpassed Honda Motor Co. to become the second-largest Japanese automaker in global sales for the April to September period. japonsamourai.fr · news4vip.livedoor.biz · www.soldionline.it
- [○ 1 SOURCE] Toyota's global electric vehicle sales increased by 127.4 percent through September compared to the previous year. electrek.co
- [● 4 SOURCES] Rising gasoline prices in China are impacting demand for non-electric vehicles. kahoku.news · www.businesstimes.com.sg · www.newsbeast.gr · www.japantimes.co.jp
- [● 2 SOURCES] Honda's production in China has decreased by approximately 90 percent compared to its 2020 peak. news.mydrivers.com · response.jp
- [● 4 SOURCES] Toyota's sales in China fell by approximately 20 percent in September. www.insider.gr · www.businesstimes.com.sg · www.newsbeast.gr · www.japantimes.co.jp
- [● 2 SOURCES] Suzuki's global sales increased by 19.9 percent to 1.824 million units during the April to September period. response.jp · www.soldionline.it