Mitsubishi Has Been Forced Out Of The Chinese Market

The situation is increasingly difficult for numerous car manufacturers in the Chinese market, both Chinese and non-Chinese.

Japanese car giant Mitsubishi began selling trucks in the Chinese market in the early 1970s. When the Chinese started buying cars, the Japanese responded quickly, delivering simple and inexpensive vehicles. Mitsubishi has long been one of the most popular car brands in China. However, times change, habits change, and technology evolves as well. While Mitsubishi was stagnant, Chinese manufacturers began to design cheap and technologically advanced cars.

Now Mitsubishi has announced that it is completely withdrawing from the Chinese market, writes Car News China. The reason is the rapid transition of the market to electric cars, which caused the collapse of the brand in China. Mitsubishi has been cooperating with the Chinese Shenyang since 1997. They produced engines that were supplied to Chinese car brands. Now that there is almost only demand for electric cars, the Japanese have withdrawn from cooperation and have also announced that they will completely leave China.

In China, demand for cars with internal combustion engines continues to decline. Stellantis Asia CEO Maxime Picat recently warned that all European car manufacturers could soon leave China.

“If you look at what has happened in recent years, the trend is strong, and it has been very difficult for Western car manufacturers to maintain their position in China,” he told the Financial Times.

Just five years ago, foreign carmakers controlled the Chinese market. Back then, Volkswagen was the best-selling car in China. Now, BYD is the most popular among Chinese people.

• Also See: Toyota’s Hino And Daimler Truck’s Mitsubishi Fuso Merges To Create New Global “Truck Powerhouse”