Ford Lio Ho Motor Co (福特六和) yesterday said it expects the local car market to grow between 5 percent and 6 percent next year from this year as consumer confidence improves.
“With more and more new products introduced in Taiwan, we believe next year will be a very good year,” marketing and sales director Anderson Liu (劉繼升) said.
Fubon Securities Co (富邦證券) is more cautious about the market for next year, forecasting auto sales would grow 2.7 percent from this year. The brokerage predicted car sales would rise 1.1 percent this year from 365,871 units last year, according to a report issued yesterday.
Liu said the SUV segment would grow the fastest, as SUVs offer more safety features for passengers and a higher sitting position for drivers.
The segment accounts for 15 percent of the total car market, up from between 12 percent and 13 percent of the market three years ago, he said after the launch ceremony of Ford’s 1.5-liter EcoSport SUV.
Ford Lio Ho, the fifth-largest car distributor in the nation, acquired 6.4 percent of the market by selling 19,804 cars from January through Nov. 10, up 32.8 percent from a year ago, industry data showed. Taiwan’s auto sales increased 0.7 percent year-on-year to 309,191 units from January through Nov. 10, the data showed.
Liu said the company aims to become one of the nation’s top three automakers within three years by introducing new models and upgrading its customer services.
“We are still experiencing a shortage of our main car components, which need to be imported, otherwise our sales would have been higher,” Ford Lio Ho manager Shawn Huang (黃南瑄) said.
Commenting on Mazda Motor Corp’s move to end its cooperation with Ford Distribution Taiwan (品爵汽車), which distributes Mazda cars in Taiwan in the coming year, Huang said that although Mazda plans to set up a new subsidiary in Taiwan, Ford Lio Ho is still likely to be responsible for manufacturing Mazda cars domestically.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
Continental AG, which makes control units for Daimler AG cars, cannot pursue antitrust claims against a group of patent owners, including Qualcomm Inc, which are seeking royalties on telecommunications technology, a federal judge in Texas ruled. Avanci LLC, a licensing pool formed by Qualcomm, Nokia Oyj, Sharp Corp and other owners of patents on technology standards, is not breaching antitrust laws when it negotiates license agreements with automakers rather than the component makers, Barbara Lynn, chief district judge for the Northern District of Texas, said in dismissing the suit in a decision posted on Friday. The licensing group charges US$15 per vehicle
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s