Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, maintained its top position by selling 139,495 cars last year.
That represented an increase of 5.3 percent from the previous year and a market share of 31.7 percent, data collected by Hotai from local motor vehicle sellers showed.
The better-than-expected performance was driven by government measures to boost new car demand, Hotai said in a statement released yesterday.
Last year, new car sales increased 4.5 percent to an 11-year-high of 439,629 units, the data showed.
The government’s five-year subsidy program, which was introduced in January last year, offers car owners a NT$50,000 discount on commodity taxes when they purchase a new car six months before or after they export or scrap their used car.
“We think that the subsidy will continue to boost local demand for new cars in the coming years,” a Hotai official said by telephone, but declined to give a detailed sales forecast.
In a bid to attract more customers, Hotai is planning to launch several new models this year, including the Toyota C-HR in the first quarter and the Lexus LC 500 in the third quarter, the official said.
Hotai also expects the Toyota Sienta, which was launched in November, to be the next sales catalyst for the company.
The company sold 2,183 Sientas last month, it said in the statement.
Hotai’s main rival in the domestic market — Yulon Nissan Motor Co (裕隆日產), which sells Luxgen and Nissan-branded cars in Taiwan — also saw full-year sales rise 3 percent annually to 44,723 units last year.
The Nissan dealer sold 11,839 Tiida cars and 9,865 Livina cars last year.
Yulon said it expects revenue from Luxgen vehicles to grow further this year, with a sales target of 18,000 units.
Both companies are optimistic about the sales outlook for this year, saying that they expect growth to be sustainable.
Hotai shares dropped 1.22 percent to close at NT$364.50 in Taipei trading yesterday, while Yulon shares were unchanged at NT$26.80.
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