[ad_1]
The automaker has had a difficult time competing with rival companies, especially from China, to bolster its sales in the Asian market.
According to Kyodo News, based on market news, Nissan Motor will close its factory in Changminato City, Jiangsu Province, China.
The plant, which is operated in cooperation with China’s Dongfeng Motor Corporation and produces the Qashqai compact sports car, was completed yesterday.
It is reported that the factory has an annual production capacity of 130,000 units, accounting for about 10% of the Japanese company’s total production in China.
The closure decision was said to be taken to reduce the Japanese company’s domestic production capacity following sluggish sales in China.
It is worth noting that due to the intensified price competition in the local market, Japanese companies’ sales volume has gradually declined and overproduction has occurred.
The latest data shows that Nissan’s new car sales in China fell 2.8% year-on-year in May.
National media have highlighted the growing dominance of Chinese automakers in the local market, especially electric vehicles.
[ad_2]
Source link
