Marginal growth forecast for auto industry in 2013
CNATAIPEI -- The production value of Taiwan's auto industry is expected to grow marginally in 2013 amid the gloomy global economy, according to a local research center.
September 1, 2013, 12:02 am TWN
The output of the local auto sector, which includes automobiles, auto parts and motorcycles, is likely to total NT$434.82 billion (US$14.51 billion) this year, up 1.5 percent from 2012, the Industrial Economics and Knowledge Research Center (IEK) said in a recent research note.
The sector benefited from the launch of new vehicle models and extended promotions announced by automakers in the first and second quarters, which boosted consumer buying, the government-funded center said.
Although local auto sales increased in July, the third quarter is the industry's traditionally low season, and a slight sequential drop is expected, the center predicted.
In July, Taiwan's auto sales totaled 39,968 units, up 22.7 percent from June but down 2.1 percent from a year earlier, according to government statistics.
In the first seven months of this year, local auto sales declined at about the same rate of 2 percent year-on-year to 222,295 units due to weak buying, the data showed.