The nation’s new car sales jumped 13.03 percent year-on-year to 40,705 units for a second month last month during the year-end peak season, with imported brands again making up more than half of overall car sales.
Sales of imported brands constituted 51.2 percent of overall new car sales from 45.2 percent a year earlier, surpassing local brands for the second month in a row.
On a monthly basis, car sales slid 0.82 percent from 41,040 vehicles, online market researcher U-Car said in a report on its Web site yesterday.
Last month’s figure brought aggregate new car sales in the first 11 months up 0.2 percent to 393,912 units, from 393,142 units in the same period last year, reversing an annual decline of 1 percent in the first 10 months, the statistics showed.
The market researcher’s report attributed the growth primarily to strong sales of best-sellers, such as the Toyota RAV 4 and the Toyota Corolla Altis, of which 3,531 and 2,902 units were sold last month respectively.
Hotai Motor Co Ltd (和泰汽車), which distributes Toyota and Lexus vehicles, was the biggest beneficiary from the seasonal growth.
The company sold the most vehicles last month at 13,781 units, a huge increase of 44.8 percent year-on-year, the statistics showed.
In the first 11 months, Hotai sold 127,704 vehicles, up 17.7 percent from a year earlier, helping boost its market share to a five-year high of 32.4 percent.
In the luxury vehicle segment, the competition was close.
Hotai sold 2,557 Lexus vehicles, but lost to Mercedes-Benz by a narrow margin of two units, U-Car’s statistics showed.
A total of 2,559 Mercedes-Benz vehicles were sold last month.
Hotai last month raised its sales target by 3 percent to 13,500 units for this year, compared with its earlier estimate of 13,100 units made in September.
The company expected the nation’s car market to grow 2.35 percent to about 435,000 vehicles this year, compared with 425,000 units last year.
Originally, Hotai expected that this year would be flat on an annual basis.
China Motor Corp (中華汽車) ranked as the nation’s second-biggest car distributor in the January-to-November period with a total of 43,388 vehicles sold, including Mitsubishi vehicles, down 4.4 percent annually.
Yulon Nissan Motor Co (裕隆日產) came next with sales growing 3 percent annually to 33,906 units, thanks to its popular Kicks model.
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
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
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
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