{"id":252956,"date":"2024-06-21T21:00:22","date_gmt":"2024-06-21T21:00:22","guid":{"rendered":"https:\/\/news.republicofgreen.com\/nissan-feels-the-heat-from-byds-ev-price-war-in-china\/"},"modified":"2024-06-22T00:19:03","modified_gmt":"2024-06-22T00:19:03","slug":"nissan-feels-the-heat-from-byds-ev-price-war-in-china","status":"publish","type":"post","link":"https:\/\/news.republicofgreen.com\/nissan-feels-the-heat-from-byds-ev-price-war-in-china\/","title":{"rendered":"Nissan feels the heat from BYD’s EV price war in China"},"content":{"rendered":"
Nissan is the latest victim of BYD\u2019s \u201cliberation battle\u201d against gas-powered cars. After BYD\u2019s aggressive price cuts this year, Nissan is shutting down a factory in China as it struggles to keep up.<\/p>\n
<\/p>\n As is the case for many legacy automakers, China is a critical sales market for Nissan. Nearly a third of Nissan\u2019s global sales and net profits are from China.<\/p>\n After slipping out of the top five automakers (by market share) in China in 2022, Nissan\u2019s woes are worsening. Nissan\u2019s sales fell 16% in China last year and the trend has continued into 2024.<\/p>\n Nissan\u2019s sales fell another 2.8% last month, with 64,233 vehicles sold in China. The company cut guidance by 23% last year, with 800,000 vehicle sales expected in fiscal 2024. According to Nikkei<\/em>, Nissan will do so with one less factory.<\/p>\n Nissan is closing the doors to its plant in Changzhou as the…<\/p>\n<\/div>\n