Output of car industry forecast to rise almost 3 percent in Q1
CNATAIPEI--Production value of the local car industry for the first quarter of this year is expected to rise nearly 3 percent from a quarter earlier as manufacturers have been intensifying efforts to launch new models, a government report said yesterday.
February 20, 2013, 12:02 am TWN
In addition, a buying spree ahead of the Feb. 9-17 Lunar New Year holiday prompted buying, the report said.
The output of the local auto sector is expected to total NT$47.55 billion (US$1.6 billion) in the first quarter, up 2.9 percent from the fourth quarter of last year, according to the report released by the Industry and Technology Intelligence Services (ITIS), a research institute under the Ministry of Economic Affairs.
For the whole of 2013, the production value of the local car industry is expected to hit NT$187.24 billion, up 1.7 percent from 2012, the ITIS said.
The statistics do not include output of the domestic electric car segment, the research division said.
In the first quarter, production value of the domestic electric car business is expected to total NT$2.94 billion, up 37.6 percent from a quarter earlier, the report said.
The significant growth in the electric car segment largely reflects the government's efforts to provide subsidies to taxi drivers who purchase hybrid vehicles.