Pan German Universal Motors Ltd (汎德永業), which sells BMW AG’s cars in Taiwan, on Thursday said that imported vehicles might contribute nearly half of the nation’s new cars sales next year, given the strong local currency.
The appreciation of the New Taiwan dollar makes imported products more affordable for customers, Pan German Universal Group (汎德永業集團) chairman James Tang (唐榮椿) said.
“There is still uncertainty in the nation’s car market, but imported cars are likely to achieve a larger share next year,” he said after a news conference for the upcoming Taipei International Auto Show.
From January through last month, the nation’s imported car sales totaled 166,951 units, a 8.95 percent increase from 153,230 units during the period last year, outpacing the overall market’s 1.2 percent growth, industry statistics showed.
The imported car sector accounted for 41.5 percent of the nation’s new car sales in the first 11 months, up from 38.5 percent year-on-year, the data showed.
Apart from a narrowing price gap between imported cars and locally made vehicles, industry figures show that Taiwanese have become more aware of car safety, local media reported.
Asked about Pan German’s plans for the coming year, Tang said the company would debut on the main board in the second half of next year at the earliest.
The company in October started trading on the Taipei Exchange’s Emerging Stock Board. According to regulations, the stock must be listed on the emerging board for six months or longer before moving to the Taiwan Stock Exchange, he said.
The founding Tang family, which also runs a car distribution business in China, owns more than 80 percent of Pan German.
The auto show is scheduled to begin on Saturday and is to run until Jan. 7 at Taipei’s Nangang Exhibition Center.
The show, which is to feature more than 350 new car models from 41 foreign brands, is expected to attract 300,000 visitors over nine days, Taipei Automobile Distributors Association chairman Eric Yu (游浩乙) said.
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