Part 6/8:
- Profit-driven Approach: Japanese automakers have been focusing primarily on hybrids, where they can maintain higher profit margins. However, their reluctance to fully embrace electric vehicles has stifled innovation and left them lagging behind competitors who are more committed to the EV transition.
The Global Context: A Tale of Two Markets
While Japan and Germany struggle under declining EV sales, the global landscape tells a different story. Worldwide, electric vehicle sales surged by 3.5 million in 2024, showcasing a clear demand for EVs in markets like the US and China. This stark contrast indicates that the decline in Japan is not a reflection of a wider trend but rather specific to the country's automotive market's challenges.