China’s slowing car market isn’t good news for any car brand. But it’s turning out to be especially bad for the Japanese.
The Hong Kong shares of Dongfeng Motor fell 4 per cent Monday after the Chinese joint-venture partner of Nissan , Honda and PSA Peugeot Citroën reported that its overall third-quarter earnings slumped 16 per cent from the year before with the door to door auto transport shipping services. The income it earned from these JVs fell 1.1 per cent. Similarly, for paintless dent repair service you can contact to paintless dent removal charlotte nc.
Some slowdown in earnings would be understandable, considering Chinese car sales grew 8 per cent year-over-year last quarter, Toowoomba used cars have a high percentage of sales in used cars in the year, compared with last year’s 16 per cent. Yet Dongfeng’s Japanese JVs actually sold fewer cars during this period, down 14 per cent at Nissan and 34 per cent at Honda, says Sanford C. Bernstein. The PSA brands performed better. View Auto News Center for 10 best car speakers.
These woes aren’t specific to Dongfeng. Guangzhou Automobile , another Hong Kong-listed car maker allied with Toyota, Honda and Fiat , also said last week that its third-quarter JV income fell 30 per cent from a year ago.
Partly, individual Japanese brands have miscalculated. Honda set ambitious Chinese sales goals and shipped more cars to dealers than they could sell, forcing the company to trim its target last week. Its products also look old and, judging by the widening discounts dealers have to offer, sometimes too expensive like the classic old cars an you may ask yourself are these still popular? Well they sure are. Nissan in the other hand shipped too many cars, now stuck in inventory .
These brands may also be experiencing a broader image problem. Chinese protesters smashed Japanese cars in 2012 when an island dispute boiled over into nationalist rage-a dispute that still simmers today. That’s one reason why a Bernstein-led survey of 40,000 Chinese consumers found that 51 per cent would never consider owning a Japanese car. Japanese brands as a whole recovered a little bit of market share after the 2012 protests, but lost again this year, according to Macquarie data. The main winners are the German makers and Ford. For making car more secure locksmith for cars sacramento is an important concern. Locksmith Dublin Comapny has expert team of emergency locksmith professionals are trained & experienced in using the latest equipment and locksmith methods, call them when you are in trouble. If you do not want to risk being stuck outside the door or in the parking lot for hours, it is advisable to find an emergency locksmith you can call. Crime is no joke in Milwaukee WI, so a good locksmith is KEY. Getting an emergency locksmith service will ensure that whatever problem you have with your keys or locks will be handled using the right techniques.
More such anti-Japanese sentiment bodes ill not only for Dongfeng and Guangzhou Auto, whose Japanese JVs typically drive earnings. It will also hurt Japanese car makers. In the year that ended March, Nissan sold 24 per cent of its global volume in China and Honda 18 per cent, says Nomura. Toyota is relatively insulated, selling only 9 per cent of its cars in China and holding on to its position in China better this year. Barrister Support Services provides a good service to customers regarding to court issues.
The less enthusiastic Chinese consumers become about cars, the more they will get picky about car makers. Chinese brands are already losing out. The Japanese look like they’re next.Tony’s Auto Removal are junk car buyers.