record china 2024/11/29 (Fri) 7:00 On November 27, 2024, a post was published on the Chinese SNS Weibo stating that “The collapse of the market share of Japanese-made automobiles has begun.” On the 27th, Chen Jing, a Weibo account with 1.5 million followers, wrote that Nissan’s net profit for the April-September 2024 period was down 94% compared to the same period last year, Toyota’s net profit for the same period was down 26.4% and for the July-September period it was down 55%, and Honda’s net profit for the April-September period was down 19.7%, showing a significant decrease in profits across the board. Mitsubishi Motors and Mazda also reported reduced profits. The report also pointed out that the share of Japanese manufacturers in the Chinese market has declined significantly, with this year’s share down 8.8 points compared to 2019. On the other hand, Chinese domestic brands increased their share by 22 points during the same period, and as of October this year, their market share had already exceeded 70%. Furthermore, Japanese cars have also seen their market share drop significantly in Southeast Asian markets this year, with declines of 6.1 points in Indonesia, 12 points in Thailand, 18 points in Singapore, and 4.9 points in Malaysia compared to 2019. “Japanese cars have collapsed in the Chinese market. It will only be a matter of time before their market share collapses. “The only other markets where we can feel safe are Japan and the US, where Chinese cars cannot enter.” Chinese netizens have commented on this incident: “The yen will fall even further in five years, and the entire Japanese auto industry will collapse,” and “Japan is a small country, but there are too many big automakers. I think that in the future, manufacturers other than Toyota will go bankrupt.” “Toyota’s sales revenue is maintaining a certain level. The decline in net profit is mainly due to foreign exchange losses.”
“If Japan’s automobile industry collapses, Japan’s GDP per capita may fall to less than $20,000.” “They still have strengths in the motorcycle sector, but these will eventually be replaced by electric vehicles.” “This is just the beginning.” While some people were saying things like this, others were saying things like, “Is China’s automobile industry making money? It seems like it’s tough everywhere.” (Edited and translated by Kawajiri).
>>1 8yd, doesn’t run in winter, doesn’t turn, doesn’t stop, expensive to repair, awful after-sales service It’s burning, don’t ever drive in front of or behind my car.
>>8 China is supposedly developing constructively under the leadership of the Communist Party and the Chinese Communist Party, so anyone who disagrees will disappear, even if they’re a high-ranking government official.
An EV is a collection of current technologies that are full of issues and risks, so if you buy one, you’ll never buy it again. Especially Chinese quality cars, you’ll not only lose your money by buying cheap ones, but you could even lose your life.
> Meanwhile, Chinese domestic brands increased by 22 points during the same period, and as of October this year their market share had already exceeded 70%. I wonder how long they can continue with this policy of “buy a domestic car and get money.”
>>16 When it comes to operating profit margins, the automotive industry is basically in the single digits 8% is the ideal Only Toyota has double digits.
>>23 The biggest problem is the Ministry of Land, Infrastructure, Transport and Tourism (Komeito) that has suspended the shipment of cars from Japanese automakers that have no safety issues, while allowing the sale of Chinese and Korean cars that are burning all over the world to go unpunished. It is truly unthinkable that a response would show such a lack of understanding of safety.
I wonder if they feel like they’ve conquered the world with EVs already. The real competition for EVs will only begin once solid-state batteries are developed. Existing battery-powered cars will no longer be looked at. No one wants to drive a car that explodes. It will become a huge amount of waste and cause environmental problems. What sells now may become a risk to business in the future.
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