New vehicle sales in Taiwan increased by over 12% to 423,829 units in 2014, from 378,456 units in the previous year, based on registration data released by the Ministry of Transportation and Communications.
The total exceeded industry expectations for the year, with a flurry of activity at year-end as buyers were encouraged by falling fuel prices.
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Toyota and Lexus distributor Hotai Motors sold close to 139,000 vehicle last year, to claim a market share of 32.9% share of the market. The company expects buoyant sentiment to drive sales higher this year, to in excess of 430,000 units.
