Mitsubishi plans to end production in China

It was reported that Mitsubishi Motor will suspend vehicle production in China due to declining sales in this country.

According to information from the official Kyodo agency based on market sources, Mitsubishi Motor will stop its production in China.

The decision to withdraw was stated to be due to the company’s declining sales in China and the Chinese market’s growing shift towards electric vehicles.

IT CAN SHIP PRODUCTION TO THE SOUTHEAST ASIAN MARKET

The Japanese company is expected to announce the official decision after negotiations with its local production partner and shift its production resources to the Southeast Asian market.

In Kyodo news, it was highlighted that local brands expanded their market shares in China and Japanese manufacturers had difficulty selling their cars in the local market.

Nissan Motor is known to have reduced its fiscal 2023 sales target in China from 1.1 million to 800 thousand, and Mazda Motor saw a 17 percent decline in sales in the April-June quarter in China. (AA)