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May 29, 2017

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Auto shares mixed despite strong Aug. showing

Auto shares gave mixed performances yesterday after reporting strong car sales in August, despite the observation of Ghost Month, dealers said.

At the end of the trade, Hotai fell 0.47 percent to NT$213, China Motor fell 1.81 percent to NT$27.2 and Yulon-Nissan rose 0.94 percent to NT$268.

Chinese people observe Ghost Month in the seventh month of the lunar calendar each year, or from Aug. 17 to Sept. 15 this year. During this period people refrain from doing auspicious things, such as getting married or purchasing new homes or vehicles.

According to data by the Ministry of Transportation and Communications, it issued a total of 25,800 new licenses in August, a rise of 11.6 percent year-on-year. In total, 252,600 new licenses were issued from January to August, a rise of 0.6 percent from the same period last year.

The 25,800 new vehicles sold were, however, a decline of 30 percent from July, again due to last month being the Ghost Month.

By company, Hotai, which distributes Toyota vehicles, sold 8,804 new cars, a rise of 23.2 percent from August 2011. The firm also led with a market share of 34.1 percent.

China Motor, which distributes Mitsubishi automobiles, sold 2,900, a rise of 6.1 percent and taking market share of 11.2 percent. Yulon-Nissan sold 2,814 cars, rising 8.9 percent year-on-year, and had market share of 10.9 percent. Sanyang-Hyundai sold 1,297 new vehicles, rising by the biggest year-on-year increase of 40.5 percent.

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