Hotai Motors Co (和泰汽車), the nation's largest automobile vendor and distributor of Toyota and Lexus cars, yesterday reported a 43.17 percent decline in revenue for last month from a month earlier caused by earlier-than-expected car deliveries.
Revenue dwindled to NT$4.82 billion (US$165.64 million) last month, from NT$8.47 billion in November last year.
“The monthly decline is because the company delivered cars to dealers as early as November of last year,” Hotai spokesman Yu Shiao-chung (喻曉忠) said by telephone.
On an annual basis, that was a 26.93 percent decline from NT$6.59 billion in the same period a year earlier as Hotai's manufacturing subsidiary, Kuozui Motors Ltd (國瑞汽車), stepped up manufacturing in the second half of 2011 after the March 11 earthquake and tsunami that hit Japan disrupted component supply from the country and caused a slowdown in its local production lines, Hotai said.
For the whole of last year, Hotai’s revenue grew 4.29 percent to NT$89.66 billion from NT$85.97 billion in 2011.
Yu attributed the growth to full restoration of Kuozui’s production capacity last year from a lower level in 2011.
Hotai sold 123,740 units last year, up 3.6 percent from about 119,460 units in the previous year.
Hotai’s share price yesterday rose 0.64 percent to NT$233.5.