Japan's automakers lose market share in China, Thailand as EVs spread

Companies rethink their strategy in these countries as competition accelerates

20240808 Honda China factory

Workers make Honda SUVs at an auto plant in China's Hubei province. © Getty Images

SAYUMI TAKE and YUICHI SHIGA, Nikkei staff writers

TOKYO -- Japanese automakers are rethinking their strategies in China and Thailand after double-digit sales declines there in the April-June period, with consumers in those key markets and beyond increasingly shifting to electric vehicles.

That comes at a time when investors are paying close attention to the performance of these high-profile companies as a recent strengthening in the yen threatens to eat up their exchange-rate gains and pressure profits.

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