Taiwan’s new vehicle market expanded by almost 2.6% to 34,403 units in May 2021 from 33,528 units a year earlier, according to registration data compiled by Taiwan’s Directorate of Highways.
This followed much stronger annualised growth in previous months, after vehicle purchases were delayed in May following the enforcement of social restrictions in response to a sharp rise in COVID-19 infections.
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In the first five months of 2021, the overall market was up by over 15% at 193,879 units from 168,396 units in the same period of last year, driven by a strong rebound in economic growth.
GDP expanded by 8.2% year-on-year in the first quarter of 2021 after growing by 5.1% in the previous quarter, reflecting strong domestic consumption and exports.
Sales of imported vehicles rose by just over 5% to 89,125 units in the five-month period, while sales of domestically-produced vehicles surged by more than 25% to 104,754 units – helped new models such as the Toyota Corolla Cross and Ford Focus and Kuga.
Toyota’s sales increased by 13.4% to 54,317 units in the first five months of the year, despite a 22% plunge in May, while Mercedes-Benz’ sales increased by just over 14% to 13,164 units, Nissan 12,965 (+7.3%), Ford 12,400 (+52.5%), Honda 11,471 (+13.6%) and China Motor 10,544 (+19.6%).
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By GlobalData
