It is well known that the auto industry has taken a hit across the globe. With sales and production down and several plant closures, it seems that things are looking grim. However, several Japanese automakers are thriving, not internationally, but in China.
With global production down for almost every automaker, Japanese cars have had positive growth in China at rates up to over 60%! While global production has dropped over 16%, Honda’s Chinese production increased by 20%. This dramatic difference could be what keeps Honda alive during these tough times. But Honda is not the only success story. From this time last year Toyota's Chinese production is up 37%, Mazda's rose 56% and Nissan's is up 62.9%. Even with these increases, Toyota’s global production sank 4% this year and Nissan fell over 8% as well.
Times are certainly tough for international business, but knowing where to be has a huge impact on success. Japanese automakers have found that China is the place for them, and it has definitely paid off.