Japan's Nissan mulls pulling out of South Korea as trade tensions rise: FT

TOKYO: Nissan Motor Co is considering pulling out of South Korea, the Financial Times reported on Friday, as political and trade tensions between Japan and South Korea have caused sales of Japanese products in the neighboring country to plummet.

Nissan and other Japanese firms have been a casualty of consumer boycotts of products ranging from cars to beer in South Korea, triggered by sudden export curbs by Tokyo earlier this year as trust between the two countries has eroded over wartime issues.

Nissan's market share in South Korea has long lagged its domestic rivals. Along with its luxury Infiniti brand, the automaker has sold just 3,581 cars in the country in January-August this year, down 27per cent from a year ago and trailing far behind Toyota Motor Corp .Japanese automakers are small players in the South Korean auto market, which is dominated by Hyundai Motor Co , and German imports including the Mercedes Benz and BMW brands.

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nissan CEO Saikawa admits to misconduct in compensation: JijiNissan Motor Co Chief Executive Hiroto Saikawa admitted to misconduct involving stock-related compensation and said he planned to return the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nissan CEO Saikawa admits to misconduct in compensation: ReportTOKYO: Nissan Motor chief executive Hiroto Saikawa admitted to misconduct involving stock-related compensation and said he planned to return the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Former Nissan boss Ghosn's trial to begin as early as March - KyodoThe trial of Carlos Ghosn, the former head of Nissan Motor Co who has been charged with financial misconduct in Japan, will begin as early as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »