TOKYO, July 14 (Reuters) - Japan's Mazda Motor (7261.T) needs to overhaul its strategy in China, the world's biggest auto market, where it faces increasingly tough competition from domestic players, the automaker's chief executive said on Friday.
CEO Masahiro Moro said business conditions for Mazda in China, where it has a joint venture with Chongqing Changan Automobile (000625.SZ) and China FAW, would become increasingly tough over the coming year to 18 months.
Its sales in China peaked in 2016 at just over 316,000 vehicles, separate industry data showed.
Mazda is not alone in finding the Chinese market increasingly tough.
Looking beyond China, Moro said if Mazda were to begin EV production in North America, it would happen after 2027, which marks the end of the middle phase of its business plan for this decade.
Persons:
Masahiro Moro, Moro, Daniel Leussink, Jason Neely, Kim Coghill, Barbara Lewis
Organizations:
Mazda, Chongqing Changan Automobile, China FAW, Mitsubishi Motors, Guangzhou Automobile Group, Toyota Motor, Thomson
Locations:
TOKYO, China, Chongqing, North America, Huntsville , Alabama