Sat, May 25, 2019 - Page 12 News List

Hotai forecasts 9% annual rise in sales due to new models

By Kwan Shin-han  /  Staff reporter

Hotai Motor Co Ltd (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, yesterday forecast that sales would this year increase about 9 percent annually to 131,000 vehicles, thanks to launches of new vehicles, including hybrid models and sports cars.

Hotai said that sales of Toyota models are to reach 110,000 units, while upscale Lexus sales would rise to 21,000 units this year.

“The release of [Toyota’s] Altis [sedan] and RAV4 [sport utility vehicle] in March is expected to boost our annual sales and profit,” Hotai Motor spokesman Liu Sung-shan (劉松山) told an investors’ meeting in Taipei.

Sales of gasoline-electric hybrid vehicles — including some Altis and RAV4 models — are expected to surge 260 percent year-on-year due to a lower base of comparison and a promotion that extends the battery warranty to eight years, he said.

The firm’s confidence about sales growth is built on strong interest from local consumers, who bought up older versions of the Altis and RAV4 before the Lunar New Year holiday and the launch of the newer models, he added.

In the second half of this year, Hotai said that it expects to launch more vehicles, with the Toyota Hilux pickup and the Toyota GR Supra sports car in the pipeline, in addition to the Lexus RC F sports car, which is entering the market this month.

Supported by new car sales, the firm said that it aims to expand its market share to 30.8 percent this year, compared with last year’s 28 percent.

Hotai’s first-quarter net income fell 7.63 percent year-on-year to NT$2.5 billion (US$79.3 million), from NT$2.71 billion in the same period last year, while earnings per share dropped from NT$4.96 to NT$4.58.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top