Chinese local brands are rising rapidly, and the market share of Japanese cars hit a record low

China is the world's largest automobile market and exporter, and the market share of Japanese cars in China has gradually declined in the past four years. Statistics show that in April this year, the market share of Japanese passenger cars dropped to 15.2%, a new low since 2013. At the same time, the market share of Chinese local brands is growing rapidly, approaching the target of 70%.

According to industry analysis, the development of new energy vehicles has become the main reason for the decline of Japanese car market share. With the transformation of China's automobile market, the fuel vehicles and hybrid vehicles that Japanese automobile enterprises rely on have lost their market appeal. Although Japanese car companies have launched electric cars, their market performance is not satisfactory in the fierce competition of Chinese brands. In addition, Japanese car companies' decisions in the fields of intelligent driving and intelligent cockpit also failed to accurately capture the preferences of Chinese consumers.

Although Japanese car companies actively responded to the challenges and increased sales through price reduction strategies, this did not bring obvious effects but intensified market competition. According to official data, the price war has not had a negative impact on the profits of Chinese automobile manufacturers. In the first quarter of this year, the net profit of the automobile industry increased by 32% year on year. However, many Japanese auto companies are facing the dilemma of layoffs and factory closures. Some Japanese auto industry experts began to worry that Japanese cars may face large-scale withdrawal.

At the same time, bloggers also began to predict that Japanese cars would collapse soon. Therefore, in the context of new energy vehicles and intelligent development, the rise of Chinese local brands has attracted widespread attention. The growing demand of Chinese consumers for new technologies and functions is also one of the important reasons why local brands can rise rapidly.

In a word, in this rapidly changing industry, whether in traditional energy or new energy, manufacturers need to constantly innovate and adapt to market demand to achieve success. In a huge market like China, no enterprise can maintain its leading position once and for all.

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