Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, yesterday launched a redesigned version of the Lexus CT200h as part of its strategy to cement its market position.
The Lexus CT200h, a hybrid premium sport compact hatchback, has a starting price of NT$1.39 million (US$46,167), down from the previous version’s NT$1.45 million, Hotai said.
“We hope the latest price adjustment will boost sales and sustain the firm’s local market share,” company president Justin Su (蘇純興) told reporters at a launch event in Taipei, citing fierce competition.
The car dealer said it expects sales of the model to reach 1,200 units per year, a 20 percent increase from last year’s 1,000 units.
Su said that new Lexus CT200h models would be equipped with automatic braking and dynamic radar cruise control systems in a bid to attract more young customers.
STILL ON TOP
From January to last month, the company remained the largest car distributor in the nation, with a market share of 32.5 percent and sales of 11,875 units, according to data compiled by local motor vehicle branches.
In the first eight months, Hotai’s cumulative revenue rose 2.12 percent to NT$117.45 billion from NT$115.1 billion, a company filing with the Taiwan Stock Exchange showed.
SUBSIDY SUPPORT
Su yesterday gave an optimistic business outlook for the rest of this year, saying that the company maintained its whole-year sales target with help from a government subsidy.
The effect of the subsidy program — which provides NT$50,000 to people who scrap or export their used cars and buy a new car within six months — seems to be still effective, he said, adding that nearly 40 percent of Hotai’s customers would benefit from the incentive this year.
The car distributor has set a whole-year sales target of 140,000 cars, slightly up from last year’s 139,495, it said.
Asked about future plans, Hotai spokesman Simon Liu (劉松山) said that the company plans to launch two or three hybrid models in the fourth quarter to further stimulate buying, eyeing strong growth momentum in the new-energy vehicle sector because of stricter emissions standards.
Toyota Motor Corp has announced plans to reduce vehicle carbon dioxide emissions by 90 percent by 2050 from 2010 levels through continuous investment in next-generation vehicles with low or zero emissions, Liu said.
Hotai shares rose 3.4 percent to close at NT$365 in Taipei trading yesterday, easily beating the benchmark TAIEX, which increased 0.48 percent.
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