May car sales better than expected, good year ahead: analysts
June 6, 2014, 12:05 am TWN
TAIPEI--Car sales in the local market for May were "better than expected," market analysts said yesterday, predicting high sales for the rest of the year.
According to statistics compiled by the transportation authorities, dealerships sold 36,724 cars in Taiwan in May, up 7.2 percent from April and up 19.9 percent from a year earlier.
During the first five months of the year, 170,365 cars were sold, up 13.8 percent from the same period of 2013, the statistics show.
The May result surprised analysts who had estimated some 2,000 units fewer due to the tax-paying month.
With the approach of the industry's traditional peak season and dealership promotion campaigns, analysts predicted that the local market for June will "maintain similar levels" as May and even higher figures in July.
Hotai Motor Co., the local sales agent for Toyota, remained the top seller in Taiwan, selling 12,721 units last month to take a 34.1 percent share of the local market.