New-car sales in Taiwan increased 57.2 percent in September as leading automakers offered no-interest loans and huge discounts to encourage purchasing.
The nation's car manufacturers sold 33,481 new cars last month and 286,246 new vehicles during the first nine months of the year, according to government statistics.
China Motor Corp (
Kuozui Motors Ltd (
Yulon Motor Co (
The nation's fourth-largest automaker, Ford Lio Ho Motor Co (
Consumer confidence has slipped at a time when the stock market is tanking and unemployment is rising, prompting automakers to offered interest-free loans for up to 24 months, the carmakers said.
Cash rebates of NT$20,000 on compact cars, NT$30,000 on the 1.6-liter to 1.8-liter midsize sedans, or as much as NT$70,000 on the 2.4-liter sport-utility vehicles, are also available.
Mazda, the nation's fifth-largest car dealer, said it does not offer interest-free loans or cash rebates on most of its lineup. Nevertheless, it still sold 1,652 new cars last month. That was a 94.1 percent increase over the same period last year, Wen Wang (
The company sold 373 Mazda 6 sedans and 219 MPVs in Taiwan so far this year. "We're very happy about the way Mazda is heading into the final quarter of 2002," he said.
Wang said Mazda has surpassed its objectives for the first nine months of this year, selling a total of 13,074 motor vehicles. This is an increase of more than 30 percent over the same period last year. The company sold 11,948 vehicles last year.
"We think the nation's new-car sales will continue to grow throughout the remainder of the year," Wang said. "We forecast that about 370,000 vehicles will be sold this year -- that's a 5.7 percent increase over last year."
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