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Honda and Nissan contemplate merger amid challenges from the Chinese car market

share-iconThursday, January 02 comment-icon2 weeks ago 8 views
News sources:
thehillTHEHILL
Honda and Nissan contemplate merger amid challenges from the Chinese car market

Credited from: THEHILL

  • Honda and Nissan announced plans for a merger aimed at becoming the world's third-largest car company by sales.
  • The merger reflects the difficulties foreign manufacturers like General Motors and Volkswagen are facing in China.
  • Chinese car brands have reportedly increased their market share from 38% to around 70% over the last five years.
  • China's governmental policies, including subsidies for domestic makers, are limiting the profits of foreign companies.
  • With rising trade barriers, foreign firms may soon reconsider their presence in the Chinese market, as indicated by a 42% drop in the value of China's EV exports recently.

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