Hotai Motor Co (和泰汽車), which distributes Lexus, Toyota and Hino models in Taiwan, yesterday said it aimed to boost vehicle sales this year to a new record, benefiting from the introduction of new models and stable automobile production amid improved chip supply.
Hotai’s goal is to increase its vehicle sales this year to about 170,000 units after scoring a historical high sales figure of 166,000 units including commercial vehicles last year, the company said. If not, the distributor would see a 2.4 percent annual increase in car sales this year.
That sales growth would help Hotai grab a larger slice of the domestic market of about 37.8 percent, this year, the company said.
Photo courtesy of Hotai Motor Co
Hotai has maintained its position as the nation’s top car distributor for 22 years with its market share rising to 34.9 percent last year, the company said.
Addressing consumers’ replacement demand, Hotai plans to introduce new models, including a major revamp to Toyota’s Camry sedan and Toyota GR Yaris, a sport compact car, in the fourth quarter, Hotai president Justin Su (蘇純興) said in a company statement.
In addition, Lexus’ new LBX model hit the market last month and a new electric series, UX 300h, would be available soon, he said.
On the commercial vehicle side, Hotai plans to introduce Toyota’s H2 City Gold electric bus powered by hydrogen later this year, matching local governments’ promotion of electrification of urban bus fleets, Su said.
Last year was a phenomenal year for Taiwan’s auto market with overall new vehicle sales climbing 11 percent year-over-year to 476,987 units, hitting the highest level in 18 years, government data showed.
Su expects domestic new car sales to come down to a normal level of 450,000 units this year, thanks to an extension of government incentives for purchasing new cars.
Besides, global automakers have seen car production return to normal, ending a prolonged supply crunch, he said.
However, geopolitical tensions and the central banks’ interest rate policy remained major uncertainties that would affect market sentiment, he said.
VALUABLE STOCK: The company closed at NT$1,005 a share, on demand for AI and HPC chips, and is expected to issue a positive report during its earnings conference Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares rose 2.66 percent to close at a record high of NT$1,005 yesterday. as investors expect the company to continue benefiting from strong demand for artificial intelligence (AI) and high-performance computing (HPC) chips. TSMC is the 19th member of the local bourse’s NT$1,000 stock club, which includes smartphone chip designer MediaTek Inc (聯發科) and electric transformer manufacturer Fortune Electric Co (華城電機). Yesterday’s rally swelled TSMC’s market capitalization to NT$26.06 trillion (US$802.3 billion) and contributed about 211 points to the TAIEX, which closed up 350.1 points, or 1.51 percent, to 23,522.53, another record high, Taiwan Stock
The waves of the Aegean Sea lap gently at the tables and chairs of two beach restaurants on Greece’s Halkidiki peninsula. It is an idyllic scene, but one that is totally illegal. Like many others in Greece, the two establishments on Pefkochori Beach do not have a license to set up shop so close to the water. After a wave of protests last summer by locals about bars and restaurants illegally covering beaches with sunbeds and tables, the Greek state is taking action. It is cracking down on rogue tourist practices with surveillance drones, satellite imagery and a special app
Luxgen Motor Co (納智捷汽車), a subsidiary of Yulon Motor Co (裕隆汽車), yesterday said it is again offering a NT$100,000 discount for its entry-level n7 electric vehicle models. The n7’s price has gone down from NT$1.099 million to NT$999,000, Luxgen said, adding that there are 25,000 preorders for the model. MG Motor’s electric hatchback, the MG4, entered the market in the middle of last month, with a starting price of NT$990,000. China Motor Corp (中華汽車), which distributes MG vehicles in Taiwan, said it aims to sell 1,600 MG4s this year. MG, originally a British brand, was acquired by China’s SAIC Motor
South Korea’s SK Hynix Inc, the world’s No. 2 memorychip maker, is to invest 103 trillion won (US$74.6 billion) through 2028 to strengthen its chips business, focusing on artificial intelligence (AI), its parent SK Group said yesterday. SK Group also said it plans to secure 80 trillion won by 2026 to invest in AI and semiconductors as well as fund shareholder returns, while streamlining its more than 175 subsidiaries. The sprawling conglomerate outlined the plans following a two-day strategy meeting, aiming to revive the group after SK Hynix, its main money maker, and the group’s electric vehicle battery arm suffered heavy losses. SK