In 2010, the yen has appreciated by more than 10% against the US dollar. Although this has caused the Japanese car to plummet its export profits from Japan, it has brought China an opportunity to undertake industrial transfer. Some cars that were not previously considered to be produced outside the country may be imported into production, and investment in production capacity in China will increase. Ghosn, CEO of the Renault-Nissan Alliance, said earlier that the economy that plans to focus its production functions on the dollar, including the United States and China, will not be affected by exchange rate fluctuations and will not expand production in Japan. Nissan has been in the “strategic transfer†recently, and since 2010, March has been introduced to China. “The Chinese factory is becoming more and more important in Nissan's global capacity building.†Ren Yong, deputy general manager of Dongfeng Nissan, told this newspaper: This means that the localization of related products will increase the intensity of China's manufacturing to further reduce costs. As for whether Nissan's high-end brand may turn to Huadu in the near future, he said that the business plan is still under discussion, but it is only a matter of time before Dongfeng Nissan has products in important market segments. The appreciation of the yen may also bring supporting opportunities for Chinese parts and components. Zeng Qinghong, general manager of Guangzhou Automobile Group, said that 70%~80% of the cost of a car is parts. It is reported that the Japanese auto industry has always been "holding a group", and the bidding for parts and components in Europe and the United States is different. Japanese auto parts and parts companies are often strategic alliances, and outsiders cannot cut in. The appreciation of the yen has made Japanese car companies say "can't eat." Following Toyota and Nissan, Japan’s Mitsubishi Motors, which is preparing to establish a joint venture with GAC, has also made similar moves in its medium-term business plan (FY2011-2013). Mitsubishi's plan announced a drastic reduction in the local procurement costs of parts and components, and launched "global small car" products in emerging markets such as China to cope with the appreciation of the yen. According to Mitsubishi Motors' plan, the proportion of Mitsubishi Motors' overseas production in 2013 will increase from the current 44% to 54%. Mitsubishi Motors also said it will significantly reduce procurement costs, which is 90 billion yen in the planning period, including purchasing more parts outside Japan to hedge against the appreciation of the yen. Mitsubishi Motors also emphasized that the locomotives that drive the company's growth will be in China, Southeast Asia, Russia and Brazil. In the next three years, through the launch of new products including "global small cars", it is hoped that the sales of these emerging markets will reach 280,000 units. The reporter learned that this small car is planned to be produced in the third plant of Mitsubishi Thailand in March 2012. For example, the Changsha base, which is a joint venture with Guangzhou Automobile, is also planned to be imported into China.
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