New vehicle sales rose 3.8 percent to 32,445 units last month from October, but fell 0.9 percent from a year earlier, the latest government data showed.
Figures released by the Ministry of Transportation and Communications also showed that sales of new vehicles in the first 11 months of this year rose nearly 17 percent to 347,400 units compared with the same period last year.
Auto sales, as measured by the number of vehicles with license plate applications, are one of the durable goods monitored by economists and industry players as an indicator of consumer spending, which accounts for about two-thirds of the nation’s overall economic activity.
According to the latest consumer confidence index poll released on Monday, the durable goods sub-index fell 5 points to 95.95 last month from October. It was the third-biggest drop among the index’s six components, suggesting that households would likely cut large-ticket item purchases in the next six months.
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus cars, remained the leader, with a market share of 40.1 percent last month. It sold 13,008 units, up 15 percent from October and 13.2 percent from a year ago, data showed.
Yulon Nissan Motor Co (裕隆日產), which had a market share of 11.6 percent, sold 3,761 Nissan vehicles last month, up 3.9 percent month-on-month and 0.2 percent year-on-year.
China Motor Corp (中華汽車) followed with a market share of 11.2 percent. It sold 3,618 Mitsubishi cars last month, down 9.3 percent from October and 17.1 percent from a year ago.