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New-car Sales in Taiwan Hit 10-year Same-period Record in June

Jul 16, 2015 | By Quincy Liang

New-car sales in Taiwan rebounded by about 20% month-on-month (MoM) in June, to hit a 10-year record of 41,248 units for the month, a 2.3% year-on-year (YoY) increase, according to statistics compiled by the Ministry of Transportation and Communications (MOTC).

Top-6 Vendors' Sales in Taiwan (June, 2015)
Vendor/Brand
June Volume
YoY
MoM
Hotai Motor / Toyota & Lexus
13,906
4.0%
30.9%
CMC / Mitsubishi
4,382
-2.2%
20.6%
Yulon Nissan / Nissan
4,225
-15.5%
10.5%
Honda Taiwan / Honda 
2,757
21.9%
30.8%
Ford Lio Ho Co. / Ford 
2,178
0.1% 
20.8%
Mazda Taiwan / Mazda
1,849
34.1%
42.8%
Overall Market
41,248
2.3% 
19.6% 
Source: MOTC
The June volume sharply contrasted to that in May, when a total of 34,478 new cars were sold on the island, down 6.1% YoY and a minor 0.5% drop. Industry sources and auto vendor forecast that the overall monthly volume might further increase to some 47,000 units in July; while the strong demand is expected to last to at least September, when consumers often put off major purchase decisions due to the Chinese Ghost Month tradition.

New-car sales in June were the second-highest monthly volume this year, trailing only that in January. In the first half, new-car sales volume totaled some 195,000 units, a 2.5% YoY increase.

Some auto vendors pointed out that in the first 20 days of June the overall market still saw a 4.7% YoY decline; but in the last 10 days of the month, some 22,500 units were licensed. They attributed the sales surge to the fact that most imported car shipments are made in the second half of a month, and most vendors deliver their new models then. The better-than-expected sales in June also more or less ease auto vendors' worries about the slowing domestic demand for new cars, as the overall market in May saw a 6.1% YoY drop, the first retreat in a long time.

Sales of Imported Cars in Taiwan (June, 2015)
Rank
Brand
May Volume
MoM
YoY
Market Share
1 Toyota
2,714
146.8%
121.6%
19.0%
2 Mercedes-Benz
1,817
104.3%
112.0%
12.7%
3 BMW
1,694
98.8%
118.9%
11.8%
4 Mazda
1,542
130.8%
481.9%
10.8%
5 Lexus
1,132
128.3%
100.0%
7.9%
6 Volkswagen
1,101
121.5%
74.8%
7.7%
Overall Imported
14,303
114.6%
119.0%
34.7%
Source: MOTC, U-Car
M.H. Huang, assistant vice president of Hotai Motor Co. Ltd., agent of Toyota and Lexus and No. 1 auto vendor in Taiwan for 12 consecutive years, said that the overall market performed better than his company's original forecast (about 44,000 units). Hotai has therefore raised its July sales forecast to more than 47,000 units.

On the other hand, many auto vendors provided more incentives to new-car buyers, who are expected to place orders in July or following months.

Expanding SUV Segment
Like that in most regions of the world, sales of sport utility vehicles (SUVs) in Taiwan have been rising sharply as fuel prices fall. Hotai sold more than 2,000 imported Toyota RAV4 SUVs in June, making the model the best-selling of its kind. Counterparts such as the locally assembled Nissan X-Trial, Honda CR-V, and LUXGEN U6 also enjoyed smooth sales. The SUV segment, as a result, for the first time pulled ahead the 1.8L sedan to become the largest segment in the domestic new-car market.

Hotai, unsurprisingly, retained the No.1 auto vendor position in June by selling 13,906 new cars, which included 4,100 locally assembled Toyota Altis compact sedans and 1,132 imported Lexuses. The company won a 33.7% share in domestic market, the highest monthly figure in the first half.

Yulon Nissan Motor Co., the agent of Nissan and Infiniti, yield the No. 2 vendor position to its group affiliate China Motor Corp. (Mitsubishi) in June. Yulon Nissan claimed that it sold 4,225 new cars in June, but is targeting at a 30% MoM volume growth of 5,400 units in July. If things go smoothly, the firm is expected to regain its No. 2 position, in conjunction with the especially hot sales of its X-Trail SUV model. 


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