Hotai Motor Co’s (和泰汽車) revenue increased slightly last month because of rising imported luxury vehicle sales, while those of other major car vendors declined amid gloomy market sentiment, the latest industry data showed.
Hotai, the distributor of Japan’s Toyota and Lexus models, reported a revenue of NT$8.47 million (US$291,500) last month, 0.5 percent higher than a year ago.
Revenue from January through last month rose 6.88 percent to NT$84.85 million from a year earlier, the company said in a filing to the Taiwan Stock Exchange yesterday.
“Domestic market sentiment was strong in the first half of the year, but it turned weak in the third quarter, along with the nation’s slowing economy,” Hotai public relations manager Yu Shiao-chung (喻曉忠) said by telephone.
As the company saw continued increase in luxury car sales, with average prices of about NT$1.5 million per unit, which is higher than the average price of NT$600,000 of other cars, Yu said the luxury segment results helped the company to register higher overall sales from the same period last year.
However, Yu declined to give a guidance for the company’s sales for this month, saying only that the company still forecasts that total car sales in Taiwan would reach 360,000 units this year.
Revenue at Yulon Motor Co (裕隆汽車), which assembles cars for Nissan Motor Co in Taiwan, decreased year-on-year by 30.25 percent to NT$2.01 million last month, after revenue in the first 11 months fell by 10.65 percent from a year ago to NT$32.88 million.
The company’s distribution arm, Yulon Nissan Motor Co (裕隆日產), also saw a decline of 41.24 percent in sales to NT$1.44 million last month from a year earlier and a 9.42 percent decline year-on-year for the first 11 months to NT$27.26 million.
An official at Yulon Nissan who declined to be named attributed the declining revenue to its downstream dealers “adjusting their inventories before new car launches this month.”
He also said he did not expect the nation’s total car sales to reach 360,000 units this year.
Meanwhile, China Motor Corp (中華汽車) saw last month’s sales decline 18.62 percent to NT$1.88 million year-on-year and the figure for the first 11 months dropped 4.18 percent to NT$31.92 million.