New vehicle sales in Taiwan expanded 11 percent year-on-year to 42,359 units last month as auto distributors enhanced their promotion strategies to sell as many vehicles ahead of Ghost Month, when some people refrain from buying cars, government data released yesterday showed.
Last month’s sales figures were little changed compared with the 42,380 units sold in June. Nevertheless, the results fell short of market expectations that new vehicle sales would grow sequentially at 3.8 percent to 44,000 units last month, a peak season for the auto industry.
During the first seven months of this year, 277,216 new vehicles were sold, 14.9 percent more than in the same period last year, government data showed.
Photo: Amy Yang, Taipei Times
Entering the traditional slow season this month, which is Ghost Month this year, new vehicle sales are expected to dip 15 percent month-on-month to about 36,000 units, Hotai Motor Co (和泰汽車) said.
That forecast is better than historical records. New vehicle sales usually plunge 35 percent during Ghost Month, as indicated in July of 2019.
“As domestic consumers are gradually changing their mindset, new vehicle sales in August are expected to remain resilient, supported by summer vacation demand. Besides, auto distributors continue offering incentives to stimulate sales,” Hotai said.
Hotai’s new vehicle sales surged 21.2 percent year-on-year, or 33.4 percent month-on-month, to a combined 16,504 units last month. That gave Hotai, which distributes Toyota and Lexus vehicles in Taiwan, a 39 percent share of the domestic auto market, safeguarding its top position.
Ford followed with 2,075 new vehicle sales last month, 6.4 percent fewer than the previous year. Sanyang Industrial Co (三陽工業), which distributes Hyundai Motor Co vehicles, was third overall, selling 2,074 units.
Last month, imported vehicles made up about 47.9 percent of total new passenger vehicle sales, outpacing the 52.1 percent share of domestic-made vehicles.
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