Japanese Car Makers Face Stiff Competition From China

China is doing the unthinkable and dethroning once dominant Japanese automakers, who are struggling to compete in China. China is the world's largest car market and domestic brands are dominating with a surge of electric vehicles. Chinese companies are also expanding into Southeast Asia, challenging the long-standing dominance of brands like Toyota, Honda, and Mitsubishi, according to w new report by Bloomberg. Between 2019 and 2024, Japanese automakers experienced the steepest market share declines in China, Singapore, Thailand, Malaysia,…