New car sales in Taiwan last year rose 11 percent to the highest level in 18 years, government data released yesterday showed.
The number of applications for vehicle license plates, an indicator of new car sales, grew to 476,987 units last year, from 429,731 units in 2022, the highest level since 2005, when 514,626 units were sold, data compiled by the Ministry of Transportation and Communications showed.
The full-year results came as vehicle sales last month rose 3.1 percent year-on-year to 43,161 units, boosted by promotion campaigns by automakers and dealers coupled with new arrivals of imported models, the data showed.
Photo: Amy Yang, Taipei Times
Market leader Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, attributed the strong results last year to delayed orders from 2022 due to the COVID-19 pandemic and the easing of a chip shortage.
With most of the delayed orders fulfilled, the market is expected to return to normal this year, Hotai said in a statement.
Despite uncertainties related to the nation’s presidential election and tension across the Taiwan Strait, vehicle sales this month are forecast to reach 47,000 units, up 35 percent year-on-year with promotions ahead of the Lunar New Year holiday, it said.
The Lunar New Year, traditionally the most important holiday in the year, falls on Feb. 10 this year.
Hotai reported sales of 14,654 units last month and 159,175 units for the year, which was an 11.5 percent increase from the previous year and the highest in the company’s history.
It has been the No. 1 vendor in Taiwan for 22 consecutive years with a market share of 33.4 percent, Hotai said.
Among the top 10 brands, six reported sales growth last year, with Lexus posting the largest increase, at 55.6 percent to 30,065 units in annual sales, followed by Hyundai at 44 percent to 22,175 units, the data showed.
Toyota led the market, selling 129,110 units, up 4.6 percent from a year earlier, followed by Honda, with an 11.1 percent increase in sales to 30,420 units. Mercedes-Benz’s sales rose 4.5 percent to 24,439 units, while BMW’s sales rose 6 percent to 17,725 units.
In contrast, Nissan, Ford, China Motor Corp (中華汽車) and Mitsubishi reported declines of 5.8 percent to 12.9 percent in sales, compared with a year earlier, the data showed.
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