Honda Taiwan Co (台灣本田) yesterday unveiled extensive price hikes for its vehicles, including a 2 percent increase for the popular CR-V series, as it joined its peers in raising prices to cope with rising raw material and manufacturing costs.
The entry model CR-V Ti sports utility vehicle costs NT$999,000 (US$33,636) following the price increase, Honda Taiwan’s Web site showed.
The vehicle previously sold for NT$970,000 following a NT$10,000 price hike in April last year.
Photo courtesy of Taiwan Honda Co
The price of the hybrid Honda Fit rose by NT$10,000 to NT$829,000 per unit, while the gasoline-
powered Fit compact hatchback costs NT$759,000, the Web site showed.
The new prices took effect on Wednesday. Honda first announced the price hikes in December.
Ford Lio Ho Motor Co (福特六和), a subsidiary of US-based Ford Motor Co, on Wednesday increased the prices of its Focus series by NT$30,000 per unit, and NT$20,000 to NT$30,000 for its Kuga family.
Yulon Nissan Motor Co (裕隆日產), Hotai Motor Co (和泰汽車), which distributes Lexus and Toyota models in Taiwan, and China Motor Corp (中華汽車), which markets vehicles under the Mitsubishi brand, last month raised their prices by between NT$10,000 and NT$110,000 per unit.
In related news, new vehicle sales last month plummeted 14.4 percent annually to 34,788 units, falling short of Hotai’s expectations of 38,000 units, as the Lunar New Year holiday cut the number of working days, market researcher U-car.com said.
Last month’s figure represented a monthly drop of 16.9 percent.
Hotai expects new vehicle sales in Taiwan to expand 11 percent this month to 27,000 units from the same month last year, thanks to replacement demand and an improving auto chip supply.
The company last month sold 13,505 Toyota and Lexus vehicles, down 5 percent from a year earlier. It sold 201 Toyota bZ4X electric vehicles last month, making the model the best-selling electric vehicle.
Hotai held a 38.8 percent market share, retaining its top position, while Mercedes-Benz Taiwan Ltd (台灣賓士) ranked second with sales of 2,509 units, down 23.5 percent annually.
Yulon Nissan, which distributes Nissan and Infiniti vehicles in Taiwan, took the third spot with sales of 1,965 units, contracting 34.7 percent annually.
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