Ford Lio Ho Motor Co (
"The corporate auto leasing market offers us a new, untapped segment for growth," Steven Chang (張偉昌), vice president for marketing and sales division, told a press briefing.
The enterprise segment experienced a less severe decline than individual vehicle sales this year, which indicated good business opportunities, he said.
Government data shows total vehicle sales from January until last month fell 28 percent year-on-year to 261,233 units. Sales to individuals plummeted 32 percent while corporate sales only fell 15 percent.
Among the country's major automakers, Ford saw the largest decline in car sales, 43 percent.
Ford Lio Ho thus decided to work with Orix Corp -- a Japanese firm involved in auto leasing, corporate finance, real estate-related finance and development -- for corporate leasing.
Ford Lio Ho said it has begun by renting Ford vehicles but will expand its lineup to include Mazda, Volvo, or Jaguar in the future.
The auto-leasing market has long been dominated by Hotai Leasing Co (和運租車) and Carplus Auto Leasing Co (格上租車), which have a combined market share of more than 50 percent.
The market has been on the rise for the past five years, reporting four-fold sales growth since 2001 to hit a total of 14,484 units last year, according to Ford Lio Ho's statistics.
This year, the sales will probably shrink to 12,500 units as a result of sluggish new car sales, it said.
As a latecomer to the market, Ford Lio Ho said it would stand out by offering "international services."
Leasers will be able to make arrangements here for vehicles in 36 other countries covered by the Orix-Ford network, said Joanne Kao (高瑾馨), Ford Lio Ho's operations manager.
Hotai Leasing officials appear fazed by the arrival of a new rival.
"We have the advantage as we provide a comprehensive service network and our cars enjoy a leading market share," said Steven Yang (楊湘泉), spokesman for Hotai Motor, the nation's largest automaker.
It set up Hotai Leasing in 1999 and leases mostly Toyotas and Lexus cars.
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