The proposed deal aims to unify operations under a joint holding company, led by Honda, while maintaining the distinct identities of each brand, according to Honda's president, Toshihiro Mibe. If finalized, the merger would position the combined entity to better compete with market leaders Toyota and Volkswagen.

The auto sector is in focus today, as companies big and small wrestle with Honda Motor (HMC) and Nissan Motor moving forward with merger talks, with plans to reach a conclusion in June of 2025 and potentially form the third largest automaker in the world. With this backdrop, now looks like a good time to check in on three other big-time auto names.

The Japanese car giants say the proposed merger would give them the scale to better compete on the global market.