At present China is one of the fastest growing car markets in the world and top global car makers are struggling hard to get the biggest chunk of the most promising market in the world. The rise in the sale in the Chinese market have attracted premium auto firms like Jaguar, Audi, BMW, land Rover and Mercedes-Benz, who are also gaining much profit. But in all, top Japanese auto makers are getting it hard to hold their market in China.
Honda, Toyota and Nissan are the three Japanese auto maker that are facing tiring task of luring Chinese buyers. These firms have seen a serious decline in the sales in the Chinese market in past few months after the dispute that was aroused between the two countries regarding few uninhibited island in the East China Sea. This territorial dispute has led to the boycott of the Japanese vehicles by the Chinese customers.
In order to gain the lost market Toyota has released two affordable models Yaris and Vios. Vios is a low cost family car while Yaris is a Hatchback; both the vehicle has been designed specially to suit the Chinese market. Nissan has also lineup all its SUVs and Honda is developing Jade for the Chinese market. Honda jade will be hitting the shores of China in the first phase and will be followed by further release in the other global markets.
Speaking on the issue, CEO of the Chinese wing of the Toyota Motor Corp., Hiroji Onishi said that the reality is that there has not been a single model that can be considered as a big hit in the Chinese market and none of the vehicles has been able to gross 20,000 sales per month so, there can be a marketing issue that is haunting the company. So, company is now trying hard to elevate its presence in the Chinese market.
Honda, Nissan and Toyota are showing off their best products at the 2013 Shanghai auto show and are trying to invoke the interest of the Chinese people. Just like India, China is also one of the most important markets for automobile and it cannot be ignored. This explains the pain these companies are taking to keep their market shares intact.