Vehicle sales in Taiwan grows by 5.8% in July

China Post reported that this July, new vehicle sales in Taiwan jumped 5.8% year-on-year, according to data released by the Ministry of Transportation and Communications (MOTC). Automakers in Taiwan sold a total of 40,840 units during the month. This equated to a gain of 34.9% from the 30,278 units sold in June.
July records show that the 15,500-unit sale made by Toyota’s local distributor, Hotai Motor, was the highest for that month in Taiwan, giving the company a market share of 38%. China Motor Corp. (CMC), which assembles and distributes Mitsubishi-brand cars in Taiwan, sold a total of 6,026 cars during the month, earning a 14.8% share of the country’s car market.
Yulon Nissan Motor Company was the third biggest seller during the month, selling 4,063 cars, which translates to a 9.9% market share. The surge in July sales was primarily due to the deep discounting offered by dealerships to attract customers in the wake of a slowing economy. Sales were also boosted in July by customers who opted to make their purchases ahead of the traditional Ghost Month, which starts on August 17 and ends on September 15. The Ghost Month is considered inauspicious in Taiwan and consumers usually avoid buying big-ticket items during this period.
New car sales are nevertheless expected to remain up on a year-on-year basis in August because of the attractive incentive programs being offered by dealers, although sales may be lower than in July. IHS Automotive expects light-vehicle sales in Taiwan to increase only marginally to 369,328 units in 2012, up 1.18% year-on-year due to higher gasoline prices compared with last year. (August 16, 2012)