Kathmandu. Japan is known worldwide for its automobiles. For decades, Japanese companies have dominated the world. This includes giants such as Toyota, Honda and Mitsubishi.
Toyota produces 10 million vehicles worldwide every year. However, Japanese companies are facing stiff competition from Chinese companies. China now overtakes Japan in global auto sales.
China’s share of global auto sales now stands at 28 percent. Japan’s share has fallen to 25 percent.
Since 2019, the share of Chinese companies in global sales has doubled. Japan’s share fell by 7 percent to 25 percent during the period. That’s the lowest in 10 years. China has officially become the global leader in auto sales.
It is estimated that by 2035, Chinese companies will account for 34 percent of global auto sales. Japan’s share will fall to 22 percent.
Chinese companies have made significant progress, especially in the EV sector. BYD also manufactures EVs as well as plug-in hybrid vehicles, alongside Gile, Chery, SAIC Motor, Great Wall Motors and Chang’an.
