Yulon Motor Co chairperson Lilian Chen (嚴陳莉蓮) on Thursday said that she is optimistic about the domestic auto market for the rest of the year, despite the COVID-19 outbreak in May.
After Taiwan raised its COVID-19 alert to level 3 nationwide on May 19, dealership visits by prospective buyers dropped significantly in the second quarter, Chen told a shareholders’ meeting.
However, with the government rolling out its vaccine program and the easing of some restrictions, Yulon could rebound later this year, she said.
New vehicle sales in Taiwan totaled 457,400 units last year, a rise of 4 percent over the previous year, Chen said, attributing the growth to the nation’s success at containing the disease last year.
Yulon sells Nissan brand models, as well as manufactures cars under its own brand, Luxgen.
The company sold a total of 40,258 Nissan and Luxgen cars last year, down 6.52 percent from 2019, she said.
Chen, who took over Yulon after the death of her husband, Kenneth Yen (嚴凱泰), in 2018, said the company has introduced a range of fiscal reforms since then.
Last year, the company reported a net profit of NT$2.73 billion (US$97.5 million), after posting losses in 2019, she said.
Chen told shareholders that the company would continue to optimize the integration of smart manufacturing, most notably in the research and development of new energy vehicles.
She also spoke of Yulon’s investment in the construction of a residential-commercial complex in New Taipei City’s Sindian District (新店), which is expected to be completed by the end of next year.
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