Toyota Motor, Honda Motor, Nissan Motor all boast YoY rise in Nov. China sales

In November 2023, the three major Japanese automakers, namely Toyota Motor, Honda Motor, and Nissan Motor, all achieved notable sales results in China, posting two-digit year-on-year growth, with Nissan Motor witnessing the steepest surge. 

Due to the low base effect resulted from the COVID-19 pandemic last year,  the three automakers achieved prominent year-on-year growth in sales within the world's largest auto market in the past month. By November 2023, Toyota and Honda both sustained year-on-year growth in China sales for three consecutive months, while Nissan experienced its first year-on-year sales increase in six months.

Despite the positive momentum in November, all three Japanese automakers still face a year-on-year downturn in cumulative sales volume in the first eleven months of this year in China. 

Regarding the performance of each automaker, Toyota Motor witnessed a 17.2% rise in November's monthly sales, hitting 164,500 vehicles in China. However, this marked a slight 4.91% decrease from the previous month, as per data disclosed by Japanese media Kyodo.

As for the sales performance of Toyota's joint ventures in China, November sales of FAW-Toyota jumped by 29.7% from the year-ago period, contrasting with a 1.9% dip in that of GAC Toyota. 

In the past month, the automaker’s luxury brand Lexus notably escalated to 2.2 times its sales from the same period last year. Reportedly, this boost is attributed to promotional campaigns during the Auto Guangzhou 2023 held in November.

In the Jan.-Nov. period of this year, Toyota has cumulatively sold 1,721,900 vehicles in China, which still represented a 1.98% notch down a year ago. 

In November 2023, Honda Motor observed a 36.5% surge in its retail sales in China compared to the previous year, totaling 106,654 vehicles. However, despite the boost, there was an 18.2% decline in retail volume compared to the previous month.

Throughout the first eleven months of the year, the automaker retailed a total of 1,068,383 vehicles within the world's largest auto market, down 13.5% year-over-year.

The prevalence of new energy vehicles continued to rise in the Chinese market. Nevertheless, Japanese car manufacturers have a higher proportion of gasoline cars. To adapt to the increasing popularity of new energy vehicles, adjustments in production and other aspects are underway.

At the Auto Guangzhou 2023 in November, GAC Honda introduced the e:NP2, while Dongfeng Honda unveiled the e:NS2, both falling under Honda's e:N brand exclusively dedicated to battery electric vehicles. This event signaled the brand's launch of its second series of electric vehicle offerings in China.

Nissan Motor's November sales in the Chinese automotive market, covering passenger vehicles and light commercial vehicles, reached 74,879 units, showing a 2.2% tick up from the previous month and a substantial 56.1% leap compared to the same period last year. The company’s November performance in China marked the first time in six months for such year-on-year growth.

Within the same period, Dongfeng Nissan, encompassing Nissan, Venucia, and INFINITI brands, reported 70,648 units sold, slightly down by 3.58% from the prior month. Simultaneously, the light commercial vehicle segment under Nissan, Zhengzhou Nissan, boasted a month-on-month increase of 29.55%, selling 4,231 vehicles in November.

In the Jan.-Nov. period of this year, Nissan's total sales in China, spanning both passenger vehicles and light commercial vehicles, amassed to 694,895 units, dropping 23.5% year over year.

During the Auto Guangzhou 2023, Dongfeng Nissan underscored the pivotal shift toward new energy vehicles in the Chinese market's evolution. However, recognizing the enduring demand for conventional fuel-driven cars, Dongfeng Nissan reaffirmed its commitment to crafting high-quality traditional vehicles.

Acknowledging the Chinese preference for spacious vehicles, Dongfeng Nissan introduced the PATHFINDER SUV to cater to this demand. The model is scheduled for an official market launch in the first quarter of 2024.