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EU Trade Commissioner Maros Sefcovic is in Beijing for two days of talks with Chinese Commerce Minister Wang Wentao on the bloc's trade deficit with China, which runs above 1 billion euros a day, and Beijing's curbs on rare earth exports. The negotiations come as EU lawmakers push for a tougher stance and Germany and France call for a rapid new EU trade instrument.
Honda Motor Co. said on August 21 that it is considering building a new assembly plant in the US to boost hybrid vehicle production, as part of a strategic restructuring following adjustments to its EV business. The move responds to strong hybrid demand in the US market while automakers face a slower-than-expected EV transition.
Nissan Motor Co. announced on June 9 it will launch a new compact SUV equipped with its most advanced hybrid system in Japan, aiming to revive sluggish domestic sales. The new-generation Nissan Kicks, featuring e-Power technology, is expected to arrive in the second half of 2026. The move comes as Nissan's Japanese sales fell 12% in fiscal 2025 to 320,000 vehicles.
Mitsubishi Motors has confirmed plans to revive its iconic Pajero SUV in Japan after a seven-year production pause, with a new model expected to debut in autumn 2026. The decision capitalizes on strong global SUV demand and aims to bolster the brand’s position in the premium off-road segment. The revived model will likely adopt a hybrid or electrified powertrain while maintaining its legendary off-road DNA.
Toyota Motor Corp. reported record annual revenue of 50.68 trillion yen for fiscal 2025, becoming the first Japanese company to exceed 50 trillion yen. The milestone was driven by strong demand for hybrid vehicles and price adjustments.
Japan's used car market hit a record 5.32 trillion yen ($34 billion) in 2025, up 54.8% from five years prior, according to a survey by an institute under the Japan Automobile Dealers Association. The growth is fueled by reduced consumer stigma toward second-hand vehicles and rising new car prices driven by raw material costs. Mini-cars and hybrids led sales growth, with increases of 62% and 78%, respectively.
