Taiwan's car market warm amid December chill
December 27, 2013, 12:09 am TWN
TAIPEI -- The temperature of the car market in Taiwan was relatively warm compared with the relative economic chill in December, as government data shows that 22,000 new cars were sold in the first 20 days of the month, representing a 46.7-percent growth from the same period of November.
The sales also registered a year-on-year growth of 18.2 percent, according to Ministry of Transportation and Telecommunications statistics.
Car dealers attributed the hot sales to motor companies' successful promotional strategies and the release of new models to stimulate consumption in the normally cold year-end season in the car market.
Normally, consumers are reluctant to buy new cars in December because when the New Year comes, their new cars will immediately be classed as one year old, which affects their price in the used car market.
Encouraged by the hot sales, which were also seen in November and October, new car sales in the fourth quarter of the year are expected to break the 100,000-unit mark, up from the 91,326 units sold in the same quarter of a year ago.
In October, some 32,000 new cars were sold, up 11.3 percent from the previous month and 14.6 percent from the same month of last year. November sales hit 34,702 units, rising 7.7 percent from October and 20.8 percent from the same month in 2012, the data shows.
Hotai Motor, which distributes Toyota and Lexus, led the market in December, selling 7,221 new cars in the first 20 days of the month, growing 55.6 percent on a monthly basis and 19.7 percent year on-year.
The company has reached its goal of selling 12,500 of the latest model of the Toyota Altis within three months of the local launch, said Eli Huang, director and chief officer of Hotai Motor's Toyota and Hino vehicles operations group, in a Tuesday newspaper report.
The target was met earlier than scheduled, Huang said, predicting a sale of 14,000 units before the end of the year.
Yulon Nissan Motor sold 3,583 new cars in the Dec. 1-20 period, recording annual growth of 58.9 percent and a month-on-month rise of 72.9 percent, promoted by the launch of the new Sentra, the report said.