【CNMO News】Recently, CNMO noted that there is news that due to increasingly fierce market competition and other reasons, two more Japanese car companies will have to withdraw from the Chinese market.
At present, some Japanese automotive industry research institutions pointed out that the business model of the Chinese auto market has undergone thorough changes, which has brought great challenges to Japanese brands. As sales of fuel vehicles continue to be compressed, Japanese brands have had to take a series of countermeasures, including cutting redundant employees, reducing production scale, and closing some production plants. The research agency pointed out that at present, in the Chinese market, brands sold in the form of imported vehicles are facing great pressure under the situation of continuous decline in sales of fuel vehicles. Sales of these brands continued to deteriorate due to the failure to quickly launch new energy vehicle models that met market demand. Forecasts indicate that at least two Japanese brands may opt out of the Chinese market.
For brands with joint ventures in China, if they are small and their sales decline is large, it may be difficult to withstand the deteriorating market environment. Among them, two brands are generally considered by the industry to face great difficulties. One of the brands has been included in the ranks of industry research institutions that need to "stop in time". Unfortunately, sources did not disclose which two Japanese automakers will withdraw from the Chinese market.
At present, the transformation of the Chinese automotive market has had a significant impact on Japanese brands, which need to re-examine their strategic positioning and product strategies in the Chinese market. Faced with rapid changes in the market and the continuous upgrading of consumer demand, Japanese brands need to seek new breakthroughs to adapt to the needs of the Chinese market and remain competitive.