Anti-Japanese Riots Hurt Japanese Automakers in China
Created: 2012-09-26 11:38 EST
Japanese automakers are scaling back production in China after several weeks of violent anti-Japanese riots in the country. Mobs specifically set their sights on destroying Japanese goods, in particular, cars.
Auto analyst at Advanced Research Japan Koji Endo told the New York Times, quote, "For the time being, I think you're going to see Japanese automakers' sales in China down by 20 to 30 percent."
Toyota and Nissan in particular have been hard hit. Nissan is scaling back production by 8.9%. Toyota has dropped its Chinese production by 18%. Honda lowered outputs by 10%.
Carmakers say the impact of the anti-Japanese riots have not come through fully in August. They expect September figures to give a clearer picture.
September through October tend to be big months for auto sales and Japanese manufacturers will likely be seeing their market share dwindle as US and European automakers fill the gap.
According to estimates by China’s Passenger Car Association, it will be the first time since 2005 that Japanese carmakers will lose their lead to the Germans.