The boycott of Japan-branded cars by Chinese customers appears to be abating faster than feared by some, but not as fast as hoped by others. Nissan expects its November sales in China to be down by approximately 25 percent, Hideki Kimata, senior general manager of Nissan’s joint venture with Dongfeng, told Reuters. Yesterday, Mazda’s China chief said he expects sales in China to be down by around 35 percent in November. (Read More…)
We have followed the effects of the Chinese boycott of Japanese products with great interest, especially when it came to cars. Encouraged by very strong sales of German brands, we declared them the winner of the war of words. It looks like we may have made a mistake. At least if we can trust official Chinese statistics.
Looking back at three catastrophes, the high yen, the tsunami and the Thai flood, a Japanese auto executive said to me last spring: “We’ve gone through hell, and made it. What else would be there, war?” He was close. A war of words over rocks in the East China Sea destroys Japanese car sales in China, while Korea profits. (Read More…)
Toyota’s China sales dropped 44.1 percent year-on-year to about 45,600 units in October, The Nikkei [sub] says. Toyota confirmed the number. A territorial dispute over uninhabited rocks in the East China Sea triggered a massive boycotts of Japanese goods, especially of high-profile cars. In September, Toyota’s China sales were down 40 percent in September.
A company owned by China’s central government is taking it on the chin as Chinese customers avoid Japan branded cars. Dongfeng reduced production at its joint ventures with Nissan and Honda, the Wall Street Journal reports today. Amount or duration of what the company calls “production adjustments” is unknown. (Read More…)
The boycott of Japanese goods in China, triggered by a dispute over uninhabited islands in the East China Sea, hit Japanese automakers where it hurts most: In the pocket-book. Honda cut its profit forecast for the fiscal year to March to 375 billion yen ($4.7 billion) from its earlier estimate of 470 billion yen ($5.9 billion), Reuters says. (Read More…)
Sales of Japanese cars in China dropped 40 percent in September as a result of the islands rumpus. The shares of Nissan, Toyota and Honda shares lost about 10 percent of their value. Chinese state-owned enterprises lost much more. (Read More…)
The violent anti-Japanese demonstrations in China appear to be over, and intestinal complications aside, it seems to be safe again to eat sushi in Beijing or Shanghai. State-owned media however is trying its utmost to keep the matter on the front burner, so to speak, in a very insidious way. (Read More…)
Cratering China sales due to the islands row made Toyota revise its production targets. Worldwide production by the Toyota Group including Daihatsu and Hino “now looks likely to reach around 9.8 million units to 9.9 million units for the calendar year instead of the currently projected 10.05 million units,” The Nikkei [sub] says.
Toyota may be cutting back its global group production by 200,000 units in the 2012 calendar year, writes Reuters, as a reaction to sharply reduced sales in China after the island row. Toyota’s China sales were down 49 percent in September. (Read More…)
Japanese carmakers and their Chinese joint venture partners lost big-time in the spat over the Diaoyu/Senkaku islands. The winners are German carmakers and their Chinese joint venture partners. Oddly enough, the central government ends up with a shot in the foot. (Read More…)