A few days ago, Akio Toyoda, former chairman of Toyota Motor Corporation of Japan, said in an interview with the domestic media that Japan can never lag behind in terms of technical capabilities, but foreign automakers such as Tesla and BYD have shown a stronger presence in the field of electric vehicles.
Akio Toyoda also stressed at the G7 summit in Japan that he opposes the full electrification of automobiles. And it is supported by Japanese automobile manufacturers such as Suzuki, Honda, Mazda, Yamaha, and Isuzu. He believes that while U.S. and Chinese automakers are strong in the field of electric vehicles, the Japanese auto industry is not inferior in terms of technological prowess. Akio Toyoda's statement has attracted a lot of attention and controversy. Many believe that Japanese automakers should be more active in following developments in the field of electric vehicles to remain competitive. Others, on the other hand, support his position, arguing that Japanese car technology is in no way inferior to foreign brands.
Whether for or against, Akio Toyoda's arguments have provoked people to think about the future development of Japan's auto industry. As the electric vehicle trend sweeps the world, it remains to be seen how Japanese automakers will respond. According to Toyota's forecast for the fiscal year from April 1, 2023 to March 31, 2024, Toyota Motor Corporation plans to sell 202,000 pure electric vehicles, 137,000 plug-in hybrid vehicles, and 3.497 million conventional fuel vehicles.
However, according to the latest forecast information, Toyota Motor Corporation expects pure electric vehicle sales to fall to 123,000 units this fiscal year, down 39.1% year-on-year. Toyota Motor Corporation's chief financial officer Yoichi Miyazaki pointed out in the revised forecast that China's electric vehicle price war has played a role in Toyota's sales revision, which also means that more domestic consumers in China have turned their attention to more cost-effective self-owned brand models.
Toyota's forecast adjustment has aroused widespread attention and heated discussions in the industry. Some experts say demand for electric vehicles remains strong in China, but consumers are more cost-effective and price-sensitive. Therefore, the competitiveness of domestic independent brands in the electric vehicle market should not be underestimated. In this environment, Toyota Motor Corporation needs to adjust its product positioning and pricing strategy to cope with fierce market competition in order to maintain stable sales growth in the Chinese market.
Overall, Toyota's performance in the Chinese market will be affected by more factors, including the strategic adjustment of competitors and the change in consumer car buying preferences. As a world-renowned automaker, Toyota Motor Corporation needs to continue to innovate and respond flexibly to market changes to ensure a competitive advantage in the Chinese market.
In the Chinese market, BYD's new energy vehicles ushered in a big event in late November, that is, the company's 6 million new energy vehicles rolled off the assembly line at the Zhengzhou plant. You know, BYD's amazing growth of 5 million to 6 million units was completed in just three months. At the same time, BYD's new energy passenger vehicles have entered 58 overseas countries and regions, including Germany, Japan, France, Australia, Brazil, the United Arab Emirates, etc., and have been highly recognized by international consumers.
BYD's achievements are eye-catching, especially at the Munich Motor Show and the Tokyo Travel Show, BYD's new energy vehicles have won unanimous praise from international consumers. This is undoubtedly a great encouragement and spur to China's new energy vehicle industry. At the same time, BYD once again used practical actions to "slap in the face" those who are not optimistic about China's new energy vehicles, including Akio Toyoda. BYD's efforts and achievements have proved the strength and potential of China's new energy vehicle industry, and also demonstrated the progress and achievements of China's automobile manufacturing industry to the world.
The international sales and high recognition of BYD's new energy vehicles have won more respect and support for China's auto industry on the international stage. It is believed that in the near future, China's automobile manufacturing industry will have more opportunities to go to the world stage and show its style and strength.
Let the stubborn Akio Toyoda continue to boast of Japan's advanced technology.
(ENDS)