Hotai Motor Co (和泰汽車), which distributes Lexus, Toyota and Hino models in Taiwan, yesterday said it is seeking a moderate increase in auto sales this year, aided by the government’s vehicle trade-in program and strong promotion efforts by car brands.
“Despite lingering global economic and political uncertainties as well as unpredictable monetary policies by major central banks, Taiwan’s auto market would hold resilient with new car sales surpassing 450,000 units this year,” Hotai president Justin Su (蘇純興) told a news conference.
Su attributed his positive outlook to the government’s new vehicle subsidy that is due to expire early next year and would prompt potential car buyers to take action this year.
Photo: CNA
Robust promotion campaigns by auto brands and the stable arrival of imported vehicles would also support the market, he said.
New car sales for its three brands might reach 165,000 units this year, representing a 3.8 percent rise from the 159,000 units sold last year, its second-best performance, Hotai said.
That target would suggest a market share of 36.7 percent, up from 34.9 percent last year when the company’s revenue rose to a high of NT$270 billion (US$8.19 billion), Su said.
Hotai would introduce several new models including the Toyota Alphard PHEV, the new Land Cruiser 250 and the GR Supra Track Edition, the company said.
Lexus would continue its Lexus Electrified strategy, expanding its lineup to meet growing demand for diverse powertrain options, it said.
On the commercial front, Hotai aims to lead Taiwan’s transition to hydrogen-powered vehicles, Su said.
The Toyota H2 City Gold hydrogen bus, which passed safety inspections late last year, is on track to become the first approved hydrogen bus in Taiwan, he said.
“With a robust pipeline of new models and an aggressive sales strategy, Hotai is gearing up for another profitable year,” he said.
Last year new vehicle sales totaled 457,830 units with Taiwan’s auto market stabilizing and most backlogged orders from a year earlier being fulfilled, Su said, adding that Hotai remained Taiwan’s top car distributor for the 23rd consecutive year.
Toyota alone contributed to 125,000 new vehicle registrations, accounting for a 27.4 percent market share, Hotai said.
The Corolla Cross remained the best-selling vehicle for the fourth consecutive year, while the Town Ace, RAV4 and Yaris Cross ranked second through fourth respectively, solidifying Toyota’s dominance in the local market, it said.
In the luxury segment, Hotai sold more than 28,000 Lexus vehicles, capturing a 24.7 percent market share and reaffirming its leadership position in Taiwan’s premium car market.
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