Yulon Nissan's March Revenue Climbs by 72% MoM

Thanks to smooth sales of new cars under two different brands, Yulon Motor Co. of Taiwan, the local assembler of Nissans and self-developed Luxgens, reported March revenue of NT$8.74 billion (US$291.3 million), up 71.5% month-on-month (MoM)  and 20.2% year-on-year (YoY), with first-quarter revenue surging 23% YoY to NT$25.34 billion (US$844.8 million).

Hotai Motor Co. Ltd., local agent of Toyotas in Taiwan, reported March revenue of NT$13.1 billion (US$436.4 million), up 28% MoM and 18.3% YoY; as well as accumulated revenue in the first three months of NT$37.8 billion (US$1.26 billion), down 1.35% YoY, due to supply shortage of some hot-selling new models.

In March, more than 34,000 new cars were sold, up 24.9% from a year earlier and higher than automakers' original expectations. With  gradual easing of new-model supply shortage, there is overall optimism toward this year's overall new-car sales in Taiwan. Hotai sold 10,805 new cars in March, up 35.4%.

Yulon Nissan Motor Co., the No. 2 auto vendor in Taiwan, sold 4,153 new Nissans in March, for monthly revenue of NT$3.03 billion (US$101.1 million), up 83% MoM and 22.8% MoM, with registered first-quarter revenue of NT$8.18 billion (US$272.6 million), up 7.7% YoY.

Yulon Nissan said that it has won more than 2,000 firm orders for its newly launched Nissan Livina compact sedans (locally assembled by Yulon Motor), which is expected to continue contributing to both Yulon Nissan and Yulon Motor's revenues.

Hotai suffered supply tension of the hot-selling Toyota Corolla Altis sedan, because its affiliated Kuozui Motors Ltd., the local assembler of Toyotas, had to meet Toyota Japan's request for exporting Taiwan-made Altis sedans to the Middle East, and imported RAV4 sport utility vehicles (SUVs). In conjunction with Kuozui's increased supply of Altis, the most popular sedan model in the domestic car market, Hotai's monthly revenue began catching up with last year's same-period level.

Hotai has launched its new, locally assembled Toyota Vios sub-compact sedan in April and won strong consumer response.

Revenues of Listed Auto Makers & Vendors (March & Q1, 2014)
	March Revenue	MoM	YoY	Q1 Revenue	YoY
Yulon Motor	NT$8.74 billion	71.53%	20.17%	NT$25.34 billion	23%
China Motor Corp. (Mitsubishi)	NT$3.22 billion	34.26%	12.98%	NT$10.09 billion	0.26%
Sanyang Industry Co., Ltd. (Hyundai)	NT$2.74 billion	24.78%	-6.89%	NT$8.05 billion	-2.57%
Hotai Motor	NT$13.09 billion	27.96%	18.26%	NT$37.78 billion	-1.35%
Yulon Nissan	NT$3.03 billion	82.98%	22.79%	NT$8.18 billion	7.69%
Source: Market Observation Post System (MOPS), Taiwan Stock Exchange.