武汉工厂停产敲响警钟，日产“断臂求生”能否起效？

Core Insights - Nissan is undergoing a significant strategic contraction in the Chinese market, with plans to fully shut down its Wuhan manufacturing plant by FY2025, marking it as the shortest-lived facility in Nissan's global production network [1] - The company's electric vehicle (EV) strategy in China has failed, with its flagship electric SUV, Ariya, and its fuel vehicle, X-Trail, both struggling to achieve production volumes, resulting in a capacity utilization rate of less than 10% [1] Sales Decline - Nissan's sales in China fell to 697,000 units in 2024, a 12.2% year-on-year decline, and down from a peak of 1.564 million units in 2018, leading to a market share drop from 7.8% to 4.1% [2] - In Q1 2025, sales further plummeted by 27.47% to 121,000 units, with EVs accounting for less than 15% of total sales, contrasting sharply with local brands that hold a 65% market share [2] Strategic Missteps - Nissan's hesitance in strategic direction has been detrimental, as it has only launched two pure electric models in China by 2025, lagging behind local brands that introduce an average of 10 new models annually [3] - The company's e-POWER hybrid technology has been excluded from green license plate policies due to its incompatibility with China's charging infrastructure, leading to a significant drop in sales [3] Product and Market Imbalance - Nissan's product lineup is heavily skewed towards the 100,000 to 150,000 yuan price range, lacking high-end offerings, which has resulted in a loss of market share to competitors like BYD [3] - The X-Trail's sales dropped dramatically after the introduction of a three-cylinder engine, and the Sylphy's average selling price has decreased significantly, indicating a loss of brand premium [3] Production Capacity Issues - Nissan's production capacity in China reached 1.6 million units by 2023, but the actual utilization rate was only 42.1%, with the Wuhan plant producing just 11,200 units in 2023 [5] Industry Trends - Japanese automakers are collectively facing challenges in the Chinese market, with their market share dropping from 18% in 2020 to 10.3% in 2024, while domestic brands have surged to 69.9% [6] - Honda's sales fell by 30.9% in 2024, while Toyota's sales also declined, prompting layoffs and factory closures among Japanese automakers [6] Technological Challenges - The traditional model of "global vehicles with local adaptations" has failed in the era of smart vehicles, as Japanese brands struggle to keep up with rapid technological advancements and consumer demands for smart features [7] - Japanese automakers are attempting to adapt by forming partnerships and investing in new technologies, but these efforts may not be sufficient to reverse their declining fortunes [8]