Automaker Yulon Motor Co (裕隆汽車) yesterday retained its target to ship 10,000 n7 electric vehicles (EV) within the first year of launch, even though a series of typhoons led to delays in deliveries last month.
Luxgen Motor Co (納智捷汽車) an EV arm of Yulon, has fallen behind its delivery schedule, shipping only 6,091 units in the January-to-October period, Yulon said.
Luxgen seized a 20 percent share of the nation’s EV market last month, behind only Tesla Inc, it said.
Photo: Amy Yang, Taipei Times
Luxgen is quickening its delivery pace in the hope of reaching the shipment goal, Yulon spokesman Steven Lo (羅文邑) told a virtual investors’ conference yesterday.
Shipments of n7 series vehicles are to increase this month, driven by the introduction of new long-range n7 models, Lo said.
With the n7 gaining consumer interest, Yulon’s revenue rose 10 percent during the first 10 months of this year to NT$65.02 billion (US$2 billion), compared with NT$59.05 billion last year, he said.
A newly opened shopping mall in New Taipei City’s Sindian District (新店) is to generate a new revenue stream for Yulon, totaling NT$5 billion, beating an earlier estimate of NT$4.5 billion, the company said.
Next year, the mall might see revenue rise to NT$5.5 billion and help bring in a rental income of NT$470 million, the firm said.
Eslite Bookstore (誠品書店) and operators of restaurants, cafes and clothing brands are among the major tenants of the shopping mall, it said.
On the nation’s auto market, Lo said new car sales in Taiwan are expected to dip 5.58 percent to 440,000 units this year from 466,000 units last year. The forecast remained unchanged from the company’s earlier estimates, he said.
Taiwan’s new car sales in the first 10 months of the year contracted 2.8 percent year-on-year to 371,000 units, as consumers adopted a wait-and-see attitude before the launch of revamped models later this year, Lo said.
Yulon this month released last quarter’s earnings report. Net profit edged up 1.6 percent to NT$1.27 billion during the quarter, compared with NT$1.25 billion in the same period last year, it said.
During the first three quarters, net profit dipped 5.35 percent annually to NT$3.36 billion compared with NT$3.55 billion. Earnings per share dropped to NT$3.2 from NT$3.55.
Gross margin fell to 32 percent during the first nine months, from 36 percent a year earlier.
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