The nation’s auto parts and accessories industry has been relatively unaffected by the global recession because companies export products mainly to the aftermarket, the Ministry of Economic Affairs (MOEA) said yesterday.
Since the second half of last year, the economic deterioration has led to a slump in demand for new cars, pushing automobile manufacturers and parts suppliers worldwide to the brink of bankruptcy.
However, Taiwan’s auto parts and accessories industry saw yearly growth of 3.18 percent in exports last year, when manufacturers shipped NT$195.66 billion (US$5.82 billion) in products abroad, Vice Minister of Economic Affairs Lin Sheng-chung (林聖忠) said yesterday at the opening ceremony for the 2009 Taipei International Auto Parts and Accessories Show (AMPA) and the Taipei International Automobile Electronics Show (AutoTronics).
Chao Yuen-chuan (趙永全), chief executive officer of the event organizer, the Taiwan External Trade Development Council (TAITRA, 外貿協會), said the financial problems facing the big three US automakers had put nearly 1,000 downstream original equipment manufacturer parts dealers out of business, citing a survey conducted by the US National Automobile Dealers Association.
“As a result, demand will shift toward the aftermarket, which will bring many business opportunities for the aftermarket auto parts industry in Taiwan,” Chao said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
Taiwan would remain in the same international network for carrying out cross-border payments and would not be marginalized on the world stage, despite jostling among international powers, central bank Governor Yang Chin-long (楊金龍) said yesterday. Yang made the remarks during a speech at an annual event organized by Financial Information Service Co (財金資訊), which oversees Taiwan’s banking, payment and settlement systems. “The US dollar will remain the world’s major cross-border payment tool, given its high liquidity, legality and safe-haven status,” Yang said. Russia is pushing for a new cross-border payment system and highlighted the issue during a BRICS summit in October. The existing system
Convenience store operator Lawson Inc has registered trademarks in Taiwan, sparking rumors that the Japanese chain is to enter the local market. The company on Aug. 30 filed trademarks for the names Lawson and Lawson Station, according to publicly available information from the Ministry of Economic Affairs’ Intellectual Property Office. The product categories on the application include some of Lawson’s top-selling items for use in the convenience store market. The discovery has led to speculation online that the popular Japanese chain is to enter the Taiwanese market. However, some pointed out that it might be a preemptive application to avoid others from co-opting the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to grow its revenue by about 25 percent to a new record high next year, driven by robust demand for advanced technologies used in artificial intelligence (AI) applications and crypto mining, International Data Corp (IDC) said yesterday. That would see TSMC secure a 67 percent share of the world’s foundry market next year, from 64 percent this year, IDC senior semiconductor research manager Galen Zeng (曾冠瑋) predicted. In the broader foundry definition, TSMC would see its market share rise to 36 percent next year from 33 percent this year, he said. To address concerns
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