Taiwan March new vehicle sales see 8th straight y/y drop

04, Apr. 2019

TAIPEI, NNA - Taiwan’s new vehicle sales in March posted a year-on-year drop for the eighth straight month as economic growth slowed in line with falling global demand, online auto industry website U-Car reported Tuesday.

Key points:

―― March sales dropped 17.5 percent on year to 32,391 units, pushing January-to-March quarter sales down 15.8 percent on year to 96,174.

―― Sales for the month were up 64.9 percent from February, when business slowed during the Lunar New Year holidays.

―― Sales of the top brand Toyota slipped 7.9 percent on year to 9,497 units. However, sales of the new RAV4 crossover sport utility vehicle and the Corolla Altis sedan helped push up sales for the month by 69.3 percent from February.

Takeaway:

―― The latest data show economic growth in Taiwan slowed to an annualized 1.5 percent in the final quarter of 2018, from 1.9 percent in the previous quarter, as the U.S.-China trade row continued.

―― A pick-up in sales will depend on the response to new models introduced in the coming months.