Nissan cuts annual sales forecast amid tougher China competition, Bloomberg reports

Chinese buyers are switching to locally made EVs faster than Nissan expected, Bloomberg reports. The automaker cut its annual delivery forecast from 3.15 million to at most 3 million and reported second-quarter operating profit well below analyst expectations, according to the report. Nissan also said China's auto-market slump intensified through October, Nikkei Asia reports.