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Stock impact report

Japanese carmakers are losing ground as China surges ahead in the EV race [Yahoo! Finance]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Company Research Source: Yahoo! Finance
Three of Japan's iconic car companies are struggling. Toyota, Honda, and Nissan have seen sales in China slump, and now Nissan and Honda are considering merging. Japanese automakers, which have prioritized hybrids, are facing pressure from China's EV giants like BYD. Japan's iconic auto industry is going through a rough patch, and now two of its most important companies are considering merging as they fight for survival. Nissan and Honda are set to negotiate a possible merger, according to multiple reports on Tuesday, as they mull combining forces to stave off the growing threat of Tesla and China's electric vehicle makers. It comes after the two companies and major rival Toyota reported slumping profits in their most recent earnings, as they grapple with ferocious competition in China and a bumpy transition to electric vehicles. Nissan announced it would cut 9,000 workers amid falling sales, while Honda reported a 15% drop in operating profit in the second quarter. Toy Show less Read more
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