Bloomberg (November 27)
“As China’s assault on the world’s automotive industry gathers speed, Japan’s national champions are emerging as some of the biggest victims. In China itself, the world’s largest car market, Japanese automakers are fighting for survival as local competitors flood showrooms” with EVs. Chinese carmakers are also “pushing into Southeast Asia, rapidly gaining ground in what has long been a stronghold for legacy brands like Toyota, Honda and Mitsubishi.” We’ve transitioned from “Made in Japan to Made in China,” with Japan’s share of global passenger car production essentially halved (from 21.6% to 11.4%) over the past 25 years while China’s share has rocketed from 1.4% to 38.4% in 2023.
Tags: Automakers, Automotive industry, Car market, Carmakers, China, Competitors, EVs, Honda, Japan, Legacy brands, Mitsubishi, Southeast Asia, Stronghold, Survival, Toyota, Victims
