economy
April 10, 2026
Honda Admits Defeat to the Chinese: We Have No Chance Against Them
Honda is going through the hardest period in its history after sales in China fell from a record 1.62 million to just 640,000 vehicles. Company director Toshihiro Mibe shocked the public with a statement that the Japanese manufacturer has no chance against Chinese suppliers. The company is forced to cancel the development of key electric models and expects losses of almost 16 billion dollars.
TL;DR
- Honda's sales in China have drastically fallen, leading to significant financial losses.
- The company's director stated they have no chance against Chinese suppliers due to their faster development cycles.
- Honda is canceling key electric model developments and restructuring its R&D to increase speed.
- Other major automakers, including Toyota and Ford, are also concerned about the rise of Chinese automotive companies.
- Chinese brands like BYD and SAIC are experiencing substantial sales growth in Europe, impacting Honda's market share.