S & P expects the share of Japanese car companies to continue to decline as the world's three major markets shift to electric vehicles.

CTOnews.com, July 12 (Xinhua)-- American research firm Standard & Poor's Global Mobile released a forecast today that the global market share of Japanese automakers lagging behind in this field will continue to decline as the world's three largest car markets (China, North America and Europe) shift to electric vehicles (EV).

Nishimoto, director of ▲ Touyuan Pexels Standard & Poor's Global Mobile, said at a webinar today that the global market share of Japanese automakers will fall from 28% at present to 23% in 2030. He pointed out that as the popularity of electric vehicles accelerated, Japanese automakers lagged behind in the deployment of electric vehicles.

Nishimoto believes that under the concept of "well to wheel", electric vehicles are the best way to reduce carbon dioxide emissions. The so-called "well to wheel" refers to the complete carbon cycle from the mine to the wheel, which includes all aspects from fuel extraction to transportation to vehicle operation. However, he also pointed out that the trend of car electrification will not be determined by the superiority of technology, but by policy.

Mr Nishimoto said the electrification trend would continue as long as China, North America and Europe, which account for about 60 per cent of the global car market, continue to promote electric vehicles. He also believes that protective policies have been adopted in all three major markets, which makes the barriers for Japanese car companies to enter these markets rising: "the current situation is that it is difficult to see the possibility that Japanese car companies can catch up with the leaders in these markets."

CTOnews.com previously reported that car sales in China, including Toyota, Honda and Nissan, all declined year-on-year in June.