As of Sept 9, Toyota, Nissan and Honda reported August China new-vehicle sales,
all down double-digit YoY. Toyota sold 118,400 units in August, down 22.8% YoY
and the seventh consecutive month below year-ago levels. Nissan sold 28,275
units, down 51.9% YoY and near-halved; this is Nissan's fifth straight month of
YoY decline. Honda sold 26,749 units, down 49.9% YoY and near-halved; Honda has
been below year-ago levels for 31 consecutive months. Analysts say intensifying
price competition among Chinese EV makers is shifting demand toward lower-priced
EVs and away from Japanese automakers' internal-combustion models.
