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Taiwan auto market sets June record amid imported cars surge

Reporter TVBS News Staff
Release time:2023/07/03 20:23
Last update time:2023/07/03 20:23
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 Taiwan auto market sets June record amid imported cars surge

TAIPEI (TVBS News) — Taiwan's automobile market witnessed a surge in imported brand vehicles in June, with 42,380 new cars registered, marking a 30% year-on-year increase but a slight 0.2% monthly decrease. 

This achievement set a record as the second-highest number of registrations for June in the past 19 years. Notably, Tesla managed to secure the fifth spot in the rankings. In July, industry insiders estimate around 44,000 vehicles to be registered, reflecting a 15% annual growth.

 

Industry experts attributed the robust performance of Taiwan's automobile market in June to the traditional peak sales season and the availability of attractive promotional schemes by various automakers. 

Also, the influx of luxury brands such as Lexus, Tesla, and Mercedes-Benz further contributed to the overall market performance. In June, imported vehicles accounted for 53% of the market, reaching a three-year high.

Among the leading brands, Toyota and Lexus, under the umbrella of Hotai Motor Co., dominated the market with 12,375 registrations, holding a combined market share of 29.2%. Toyota accounted for 9,372 registrations, representing a 3.8% year-on-year increase and a market share of 22.1%. 
 

Meanwhile, Lexus recorded 3,003 registrations, reflecting an impressive 154.1% year-on-year growth and securing a market share of 7.1%. This marked the fifth consecutive month Lexus emerged as the top-selling luxury brand.

In June, Tesla entered the top 10 brands for the first time, clinching the fifth spot, while Mitsubishi dropped off the list. The top 10 brands were Toyota, Lexus, Honda, Mercedes-Benz, Tesla, BMW, Hyundai, Ford, CMC, and Nissan. 

Notably, Tesla's remarkable year-on-year growth of 283.9%, Lexus's growth rate of 154.1%, and Hyundai's 123.5% increase showcased their impressive performance.
 

Taiwan Business

#Taiwan#auto market#Tesla#imported brand vehicles#luxury brands

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