日产汽车，昔日辉煌难再续？

Core Viewpoint - Nissan is facing significant operational challenges, leading to a large-scale layoff of 20,000 employees, approximately 15% of its workforce, primarily due to a drastic decline in sales in the Chinese market, which fell by 12.2% in fiscal year 2024, totaling around 690,000 units sold [1][3][5]. Group 1: Sales Performance - Nissan's sales in China have been declining for six consecutive years, with a notable drop from approximately 1.38 million units in 2021 to 1.045 million in 2022 (down 22.1%), further decreasing to 793,000 in 2023 (down 24.2%), and reaching only 696,000 in 2024 (down 12.2%) [3][4][5]. - The company's market share in China has decreased from around 6% a few years ago to less than 4% in 2023, while the overall passenger vehicle market grew by 5.6% to 21.7 million units [6][3]. Group 2: Internal Challenges - The decline in Nissan's performance is attributed to slow decision-making and strategic missteps by the management team following Carlos Ghosn's departure, leading to a lack of innovation and product development [2][9][10]. - Nissan's product lineup is heavily reliant on an aging model, the Sylphy sedan, with over 99% of its sales still coming from traditional fuel vehicles, indicating a significant delay in the transition to electric vehicles [6][10][11]. - The company has faced internal turmoil, including management instability and governance issues, which have hindered its ability to respond effectively to market changes [12][13]. Group 3: Market Environment - The Chinese automotive market is undergoing a significant shift towards electrification, with local brands capturing over 90% of the new energy vehicle market share, while Nissan's presence in this segment remains minimal [14][15]. - In 2023, the sales of new energy vehicles in China reached 7.748 million units, growing by 36.5%, while Nissan's electric vehicle offerings have been limited, resulting in negligible sales impact [14][15]. - The competitive landscape has intensified, with local brands like BYD achieving substantial sales growth, further pressuring Nissan's market position [15][16]. Group 4: Future Strategies - Nissan is at a crossroads, facing potential outcomes of gradual exit, decisive transformation, or a struggle for resurgence in the Chinese market [18][19]. - The company has announced plans to invest 10 billion RMB in China and aims to launch 10 new models by 2027, indicating a commitment to revitalizing its product offerings [20][21]. - To regain market share, Nissan may need to adopt aggressive pricing and service strategies, balancing short-term profitability with long-term brand recovery [22][21].