Last month, Honda’s Chief Mibe Toshihiro announced at a press conference that the company is heading towards a loss for the first time since 1957. Taking responsibility for the failure, he informed about a 30% cut in his and his deputy’s salary. However, Honda is not the only Japanese car company facing serious difficulties. Last week, Mibe warned that Japan’s automobile industry is struggling with an existential crisis. The 25% tariff on imported cars in America has reduced the industry’s profits. The biggest impact has been from Chinese rival companies. Nissan, the world’s sixth-largest company by sales, is undergoing cuts for the second consecutive year. There are plans to close seven factories by 2028. In 2019, Japanese car companies had a 31% share in global car sales. This fell to 26% last year. Meanwhile, in Southeast Asia, market share dropped from 68% in 2023 to 57% in 2025. EVs growing in the neighborhood Last year, 26% of electric cars including hybrids were sold in the global car market. This is 3% more than 2019. Sales are higher in Japan’s neighborhood. One-third of cars sold in Asia last year were electric. Post navigation 8 major changes for Indian Railways in 2026-27:First hydrogen train, 12 Vande Bharat sleepers; tickets may be cancelled from any station’s counter
