Wed, Jul 17, 2019 - Page 12 News List

Hotai setting sales records thanks to Altis and RAV4

By Kwan Shin-han  /  Staff reporter

Hotai Motor Co Ltd (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, yesterday said that the launch of new Altis and RAV4 models is expected to continue boosting sales in the second half of the year, after they helped lift sales to a record high last quarter.

“The Altis sedan and RAV4 sport utility vehicle, released in March, helped boost sales last quarter,” Hotai said in an e-mail to the Taipei Times.

Hotai reported revenue of NT$55.33 billion (US$1.78 billion) for the second quarter, up 16.65 percent year-on-year.

In the first six months, the company sold 65,725 Toyota and Lexus vehicles, up 5.5 percent from a year earlier and accounting for 31.8 percent of the local market.

That included 55,826 Toyota vehicles, up 4.62 percent annually, and 9,899 Lexus vehicles, up 10.57 percent and marking the highest increase among leading brands in Taiwan, the company said.

Earlier this month, it opened preorders for 30 limited-edition Toyota Supra sports cars.

As of Monday, more than 1,000 people were on the waiting list, it said.

Toyota Motor Corp in 2002 suspended its Supra line, but resumed production earlier this year, Hotai said, adding that it plans to introduce the Supra to Taiwan in September.

The sports car is able to accelerate from 0 to 100kph in 4.3 seconds with a top speed of 250kph. It is equipped with a 3-liter inline six-cylinder engine, as well as a high-end turbocharger, direct fuel injection and variable valve control, Hotai said.

Hotai maintained its forecast set in May of selling 131,000 vehicles this year, while total vehicle sales in Taiwan are expected to reach 425,000, it said.

As the company’s core business continues to grow, coupled with increasing contributions from its subsidiaries, profits this year would reach a record, analysts said.

Hotai reported earnings per share of NT$18.36 last year, down from NT$18.52 in 2017.

Hotai shares yesterday closed up 1.67 percent at NT$488 in Taipei trading.

They have skyrocketed 97.57 percent so far this year.

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