The local auto industry last month remained upbeat, as major players reported rising vehicle sales and dealers’ promotion campaigns proved successful.
Hotai Motor Co (和泰汽車), Yulon Nissan Motor Co (裕隆日產) and China Motor Corp (CMC, 中華汽車) showed double-digit percentage sales gains month-on-month, while CMC, Honda Taiwan Co (台灣本田) and Mercedes-Benz Taiwan Ltd (台灣賓士) recorded double-digit percentage increases year-on-year.
Overall, new car sales rose 13.9 percent from October to 40,436 units, online automobile information Web site U-Car reported on Friday, citing data compiled by local motor vehicle branches.
The figure represented an increase of 5.6 percent from the same period last year, the data showed.
Hotai, which distributes Toyota and Lexus models, said its sales rose 21.5 percent to 11,452 vehicles from a month earlier, helped by promotions such as free flat-screen televisions.
On an annual basis, the figure dropped 5.1 percent, but Hotai still led the market with a 28.3 percent share, the data showed.
Yulon Nissan, which sells Nissan and Infiniti cars, saw sales rise by 12.5 percent monthly and 5.6 percent annually to 4,003 vehicles, while sales at CMC, which distributes Mitsubishi sedans and its own commercial vehicles, increased 13.4 percent month-on-month and 11.5 percent year-on-year to 3,922 vehicles.
Yulon Nissan and CMC kept their second and third-place rankings, with market shares of 9.9 percent and 9.7 percent respectively, the data showed.
Honda Taiwan saw sales increase 6.1 percent from October and 31.2 percent from a year earlier to 3,201 vehicles to secure fourth place with a 7.9 percent market share on the back of steady sales of its HR-V subcompact and CR-V sport utility vehicles.
Mercedes-Benz Taiwan, the nation’s largest luxury car distributor, reported a 2 percent monthly increase in sales to 2,261 cars, 11.1 percent higher than a year earlier.
The European luxury brand ranked fifth-largest with a 5.6 percent market share, the data showed.
Imported car sales last month increased 41.5 percent, continuing a strong showing since June, when their combined market share exceeded 40 percent.
Market watchers say the dominant market share of domestically made cars has dropped below 60 percent on the back of declining interest in cars with insufficient safety features.
In the first 11 months of the year, 402,452 new cars were sold in Taiwan, up 1.2 percent year-on-year and an acceleration from the 0.7 percent increase seen in the first 10 months, U-Car said.
With aggressive promotional campaigns to boost buying interest in the final month of the year, the overall market could close out strong again, U-Car said.
Last year, new car sales increased 4.5 percent from 2015 to an 11-year high of 439,629 units.
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
Uber Technologies Inc, Lyft Inc and Airbnb Inc have slashed thousands of jobs. Salesforce.com Inc and Visa Inc are letting employees work remotely for months; Twitter Inc and Square Inc are allowing them to do so for good. For the companies’ hometown of San Francisco, the moves are early signs of a dire blow. In a city with a long history of booms, busts and natural calamities, the COVID-19 pandemic has suddenly upended nearly a decade of prosperity. While municipalities across the US are grappling with economic fallout from the virus, San Francisco stands to take a deeper hit given its high
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the