Japanese Brands' Retail Share in China Falls to 10.7% in September; Three Major Japanese Brands See YoY Sales Decline

Public data shows that in September, the retail share of Japanese brands in China was 10.7%, compared with 23.1% in 2020. Nissan sold 23,658 vehicles in China in September, down 61.6% year on year, marking six consecutive months of year-on-year decline. Honda sold 25,564 vehicles in China in September, down 53.1% year on year, marking 32 consecutive months of year-on-year decline. Toyota sold 127,700 vehicles in China in September, down 19.7% year on year, marking its eighth consecutive month of year-on-year decline. From January to September, Toyota, including Lexus, sold a cumulative 1,055,500 vehicles in China, down 18.9% year on year. A salesperson at a FAW Toyota 4S store in Chaoyang District, Beijing, said the store previously sold 130 to 140 vehicles a month, but sales have now fallen by at least one-third; a hybrid SUV that is the store's main model previously sold about 50 units a month and now sells at most just over 20. Some models offered discounts of about 10,000 yuan in the early stage after launch, and now offer discounts of about 30,000 yuan. A GAC Toyota gasoline-electric hybrid SUV launched in 2020 with a maximum guide price of about 250,000 yuan now offers discounts of 30,000 to 38,000 yuan, with the lower trim costing about 160,000 yuan on the road and the higher trim about 180,000 yuan. A salesperson at Changan Mazda revealed that national sales rose overall in September, with the store's main SUV selling about 20 units a month and electric vehicles about 10 units a month. Its new energy models offer a maximum comprehensive trade-in subsidy of 27,000 yuan.