Taiwan’s sluggish car market could rebound as early as the second half of 2009, after continuous declines for three years, according to Wu Hsin-fa, president of Yulon Nissan Motor Co.
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According to Taiwan Economic News, Wu said that 2008 should be the end of declining new car sales in Taiwan, which are expected to rebound with falling fuel prices and official incentives offered to stimulate the domestic economy. He also forecasted that the high-end import segment would rebound earlier than others.
According to Wu, sales of imports in Taiwan are expected to reach 21,000 to 22,000 units this year thanks to a predicted uptrend after September due to fuel price falls. The annual volume is expected to reach 30,000 units in 2009, the president estimated.
New car sales in Taiwan have plummeted to a twenty year low this year. In August, only 9,563 new cars were sold, down 60.4% from the same month of last year.
