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Auto sales decline on instability and weak sentiment

The nation's automobile sales last month declined by 25.94 percent compared with the previous month and by 9.3 percent compared with the same month a year ago as a result of political instability and weak economic sentiment, an automaker said yesterday.

"The political chaos and weaker consumer spending last month impacted overall vehicle sales," said Steven Yang (楊湘泉), spokesman for Hotai Motor Co (和泰汽車), on the sidelines of a vehicle launch yesterday.

According to the latest statistics from the Ministry of Transportation and Communications, the number of locally made vehicles applying for license plates, an indicator of new vehicle sales, stood at 32,641 units last month, dipping from 44,073 units a month earlier.

For the first 10 months of the year, new car registrations reached 438,573 units, up 7.6 percent from a year earlier, the government's statistics showed.

Last month's weak performance is set to drag down the overall fourth-quarter outlook, but Yang said Hotai Motor is still confident in maintaining its leading position by selling 150,000 units this year.

Hotai Motor, the nation's largest automaker, which also distributes Toyota and Lexus vehicles, introduced revamped versions of the Wish minivan yesterday.

Starting from a price tag of NT$843,000, these minivans are targeted at the booming recreational vehicle market, as this segment has enjoyed the highest growth among all vehicle types in the nation this year, Yang said.

Hotai Motor is not alone in tapping into the market as its rivals are set to follow suit this week.
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