'Sales Of Japanese Carmakers Toyota, Nissan And Honda sink In China As They Fall Behind In EV Race' - SCMP
Portfolio Pulse from Happy Mohamed
Sales of Japan's top six carmakers, including Toyota, Nissan, and Honda, have dropped nearly 20% in China in the first half of the year. This is their biggest drop in the world's largest car market since 2012, as the shift to electric vehicles (EVs) accelerates. Nissan was the worst affected with a 24.4% drop, followed by Honda with a 22% drop, while Toyota saw a 2.8% drop. The Japanese carmakers are lagging behind their Chinese rivals in developing EVs.
July 18, 2023 | 1:43 pm
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NEGATIVE IMPACT
The iShares MSCI Japan ETF (EWJ) could be indirectly affected by the poor performance of Japanese carmakers in China, as these companies are part of the Japanese economy and stock market.
The poor performance of major Japanese carmakers in China could negatively impact the Japanese economy and stock market, which could indirectly affect the performance of the EWJ ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Honda's sales in China plummeted by 22% in the first half of the year. The company is also falling behind in the EV race in China.
Honda's significant sales drop in China could severely impact its revenue and profitability. The company's lag in the EV race could further impact its future market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Nissan's sales in China plummeted by 24.4% in the first half of the year, the worst among the top Japanese carmakers. The company is also falling behind in the EV race in China.
Nissan's significant sales drop in China could severely impact its revenue and profitability. The company's lag in the EV race could further impact its future market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Toyota's sales in China fell by 2.8% in the first half of the year, a relatively minor drop compared to its Japanese counterparts. However, the company is lagging behind in the EV race in China.
Toyota's sales drop in China, the world's largest car market, could negatively impact its revenue and profitability. The company's lag in the EV race could further impact its future market position.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80