Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, July 14 (Reuters)-Japanese Mazda CEO Maolong Shenghong said today that the company needs to overhaul its strategy in China, the world's largest auto market, as Mazda is facing increasing competition from Chinese automakers.

Business conditions in Mazda's joint ventures with Chongqing Changan Automobile and FAW in China will become more and more difficult in the coming year or even 18 months, said Mao Longhong, Pixabay of ▲ Tuyuan.

Mao stressed that although Mazda plans to cut fixed costs, it does not intend to "downsize", describing the current "car production is temporarily low, while profit pressure is increasing." In the face of this situation, he believes that "the important thing is to turn the tide-the launch of electric cars."

Sales of Mazda in China peaked in 2016, with just over 316000 vehicles, according to third-party industry data. According to Mazda's own data, its sales in China fell 41 per cent in 2022 from the previous year to just over 108000 vehicles, a level lower than electric car start-ups Lailai and Xiaopeng. At present, Mazda 3 is the best-selling model in the Chinese market.

CTOnews.com previously reported that Mazda is not the only company that is struggling increasingly in the Chinese market. GAC-Mitsubishi said yesterday it would cut staff costs because of falling SUV sales in China.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.