Image credit: @marufish.
Toyota executives have seen the writing on the wall, when owner’s of your cars are getting pulled out of them and beaten comatose, this probably isn’t the best time to be investing in China.
The FT reports:
Toyota’s sales in China were down by about 40 per cent in September compared with a year earlier, according to people briefed on the data and the production and export plans, which have not been officially announced. On Thursday, Mazda said its Chinese sales fell 35 per cent in the same month.
Toyota’s Chinese operations were closed this week for a national holiday, but when they reopen next week production is to be drastically slowed, these people said. October output could drop to as little as 35,000 vehicles, 56 per cent lower than in the same month last year.
Nissan, which has not released Chinese sales figures, is also believed to be suffering due to anti-Japanese sentiment; deputy president Takao Katagiri told reporters: “We are not changing our basic strategy. When the situation calms down, I believe things will return to normal, and we are not thinking that pessimistically.”