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Sales of New Cars in Taiwan Up 25% YoY in March

Apr 21, 2014 | By CENS

A total of 34,307 new cars were sold in Taiwan during March, up 24.9% year-on-year (YoY) and a new high for the month in recent years, according to statistics compiled by the Ministry of Transportation and Communications (MOTC).

In the last 10 days of March, some 18,000 new cars were licensed, more than some 16,000 units sold in the first 20 days in the same month, analysts said.

Auto distributors attributed the high monthly new-car sales volume to a 10-year replacement demand triggered by the roll out of new car models by local automakers and car importers, especially the Toyota Altis sedan, Nissan Super Sentra sedan, and LUXGEN U6 crossover. These hot-selling car models were unveiled in late 2013 and have been in short supply for several months.

In March, 4,451 Toyota Altis and 1,477 Nissan Super Sentras were licensed. In addition, more than 10,000 imported cars were sold during the period, increasing the market share of imported cars to 31%, a record high since 2002. The market share of imports in Taiwan is expected hit a record 35% in the near future as a slew of new models hit the local market, including Mercedes-Benz, BMW, Audi, Lexus, Infiniti, Volkswagen, and Volvo etc., raising the pressure on locally-assembled models, industry sources said.

Hotai Motor Co. Ltd., local agent of Toyota cars and the top auto seller in Taiwan for more than a decade, sold 10,805 units in March, up 35.4% YoY and securing the company a 31.5% market share in the month. Justin Su, president of Hotai, said that the market strength in March raises prospects for selling over 400,000 units in Taiwan this year.

To meet strong demand, all major local automakers, including Kuozui Motors Ltd. (Toyota), Yulon Motor Co. (Nissan and LUXGEN), and China Motor Corp. (Mitsubishi) are working overtime to increase output.

Hotai plans to advance its distributor sales competition by a month to April in a bid to widen its lead over major rivals. The auto distributor aims to increase its market share to 34% in 2014.

Hotai recently also launched an adapted version of the Toyota Vios sub-compact sedan model. The locally-assembled model has a base price of just NT$519,000 (US$17,300). Hotai hopes to sell 6,000 new Vios in three months.


New-car Sales by Top-10 Dealerships in Taiwan (March 2014)
Vendor/Brand
March Volume
Share
YoY Gain
Hotai Motor / Toyota
10,805
31.5%
35.4%
Yulon Nissan / Nissan
4,153
12.1%
27%
CMC / Mitsubishi
4,019
11.7%
7.2%
Ford Lio Ho Co. / Ford
1,996
5.8%
19.2%
Honda Taiwan / Honda
1,845
5.4%
-8.4%
M-B Taiwan / Mercedes-Benz
1,588
4.6%
8.0%
Luxgen Motor / LUXGEN
1,420
4.1%
156.8%
Mazda Taiwan / Mazda
1,386
4.0%
56.6%
Pan German / BMW
1,290
3.8%
46.4%
Taikoo / VW
1,080
3.1%
55.8%
Overall Market
34,307

24.9%
Source: MOTC


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