The Nikkei newspaper reports that Japan’s big three car makers have cut production for China by half as the two countries remain at odds over ownership of a few small islands. Toyota Motor Corp. (NYSE: TM), Honda Motor Co. Ltd. (NYSE: HMC) and Nissan have suffered large drops in sales. Since China is the world’s largest car market, the dispute, which has caused the drop in demand, may hurt these firms nearly as much as the Japanese earthquake, if the dispute lasts for months.
Japanese car companies continue to play catchup in China behind market leaders General Motors Co. (NYSE: GM) and Volkswagen. Every large manufacturer in the world has set high goals for sales in the People’s Republic. The market share competition does not include China’s own car companies, which also are anxious to expand.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
