Japanese automakers Honda and Nissan have agreed to begin talks of a merger, which would create the world’s third-largest automaker in terms of sales. At a press conference Monday, Dec. 23, the two companies, along with smaller automaker Mitsubishi Motors, announced they signed a memorandum of understanding to formally begin merger talks.
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Over the next six months, Honda and Nissan will discuss the best ways to combine their operations, with the goal of a completed deal for August 2026.
“The rise of Chinese automakers and new players has changed the car industry quite a lot,” said Honda CEO Toshihiro Mibe, referring to the rise of electric and driverless vehicles. “We have to build up capabilities to fight with them by 2030, otherwise we’ll be beaten.”
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Currently, Honda sells nearly 4 million vehicles a year and Nissan more than 3 million. Meanwhile, Toyota, the No. 1 car brand in the world, sells around 11 million and Volkswagen, the No. 2 automaker, sells approximately 9 million vehicles a year.
[craig nigrelli]
AND NOW TO DEVELOPING NEWS OUT OF THE AUTO INDUSTRY —
JAPANESE AUTOMAKERS HONDA AND NISSAN HAVE AGREED TO BEGIN TALKS OF A MERGER – WHICH WOULD CREATE THE WORLD’S THIRD-LARGEST AUTOMAKER IN TERMS OF SALES.
AT A PRESS CONFERENCE TODAY — THE TWO COMPANIES – ALONG WITH SMALLER AUTOMAKER MITSUBISHI MOTORS — ANNOUNCED THEY SIGNED A MEMORANDUM OF UNDERSTANDING TO FORMALLY BEGIN MERGER TALKS.
OVER THE NEXT SIX MONTHS, HONDA AND NISSAN WILL DISCUSS THE BEST WAYS TO COMBINE THEIR OPERATIONS, WITH THE GOAL OF A COMPLETED DEAL, FOR AUGUST.
CURRENTLY HONDA SELLS NEARLY 4 MILLION VEHICLES A YEAR —
NISSAN — MORE THAN 3 MILLION.
MEANWHILE — TOYOTA – THE NUMBER ONE CAR BRAND IN THE WORLD – SELLS AROUND 11 MILLION – AND VOLKSWAGEN – THE NUMBER 2 AUTOMAKER – SELLS APPROXIMATELY 9 MILLION VEHICLES A YEAR.
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