Nissan and Honda, close to "merger" - The merger of the companies aims to strengthen their position in the global market
Japanese carmakers Honda and Nissan are in talks to deepen ties, including a possible merger, as challenges from Tesla and Chinese rivals demand a restructuring of Japan's auto industry. The two Japanese companies combined would become the world's third-largest auto group by sales behind Toyota and Volkswagen.
Honda sold 3.98 million vehicles globally last year, while Nissan sold 3.37 million vehicles on a preliminary basis. Their combined sales in 2023 totaled 7.35 million vehicles, more than the 7.31 million reported by South Korea's Hyundai and its subsidiary Kia, currently the world's third-largest auto group.
Honda produced 4.19 million cars globally last year, while Nissan produced 3.44 million. Honda's market capitalization is about $44 billion, while Nissan's is about $10 billion after the stock price increase, meaning a full merger would be bigger than the giant 52 billion between Fiat Chrysler and PSA in 2021 to create Stellantis.
Honda's most important market is the United States, accounting for a third of its vehicle sales in 2023. Combined with Canada and Mexico, North America represented 37% of sales, while China's share was 31 % and that of Japan was 15%. Europe accounted for only 2% of sales. Nissan's largest market is also North America, accounting for 37% of its vehicles sold in financial year 2023, with the US representing 27%, China 23%, Japan 14% and Europe 10%.
Honda has a goal to increase production of electric vehicles to more than 2 million units per year by 2030, when the automaker aims to convert 40% of new car sales to electric cars and fuel cell vehicles. By 2040, the company plans to sell only these two types of vehicles. As gasoline-electric hybrid cars have gained popularity in the core North American market, Honda announced an additional target for 2030 to sell 1.3 million hybrid vehicles annually, doubling its 2023 levels.
Nissan, once a pioneer of electric cars that introduced the first car of its kind to the mass market in 2010, aims for these cars and hybrids to account for 60% of global sales by 2030.
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