According to information from the official Kyodo agency based on market sources, Mitsubishi Motor will stop its production in China. It was stated that the decision to withdraw was due to the company’s decreasing sales in China and the increasing shift of the Chinese market towards electric vehicles.
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 the Kyodo news, it was emphasized that local brands expanded their market shares in China and Japanese manufacturers had difficulty selling their cars in the local market.
It is known that Nissan Motor reduced its 2023 fiscal year sales target in China from 1.1 million to 800 thousand, and Mazda Motor experienced a 17 percent decrease in sales in the April-June quarter in China.