Honda CEO Toshihiro Mibe caused shock with his statement after visiting a supplier factory in Shanghai: "We have no hope against it". The Japanese company faces a serious crisis in China, with sales falling from 1.62 million units in 2020 to just 640,000 in 2025, while for 2026 they are expected to fall below 600,000. Honda uses only 50% of its capacity. Chinese manufacturers develop new models in two years or less, while traditional brands take twice as long.