Nissan’s China Sales Tumble as EV-Makers Gain Ground

Nissan Motor Co. Ltd. posted a sharp drop in its China car sales in the 2022 fiscal year as the Japanese company trailed many of its rivals in shifting toward electrification in the world’s largest auto market, where homegrown electric-vehicle (EV) brands are increasingly gaining traction.

Nissan sold just over 1 million cars in China in fiscal 2022, a 24.3% drop on the year, according to its earnings report released on Thursday. In comparison, it booked respective annual drops in car sales of 5.2% and 5.8% in the two previous years. But the country is still the auto giant’s largest market, followed by North America, Japan and Europe, respectively.