SAIC’s newly launched MG4

Taiwan’s new vehicle market fell by a further 2% year on year to 41,587 units in June 2024 from 42,379 units a year earlier, according to registration data compiled by Taiwan’s Ministry of Transportation.

After a strong start to the year, the market saw declines in each of the last five months resulting in a slight fall in first half sales to 232,511 units from 234,286 in the same period of last year.

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The vehicle market this year has come up against strong year earlier volume while imports from Europe were affected by significant shipping delays earlier in the year due to geopolitical tensions in the Red Sea.

Sales of imported vehicles were estimated at 116,650 units in the first six months of 2024 while domestic sales amounted to 115,861 units. Sales of battery electric vehicles (BEVs) continued to grow strongly in June, by 52% to 6,572 units, with first half sales amounting to 18,220 units, dominated by Tesla, domestic brand Luxgen and BMW.

Sales of Toyota vehicles fell by 1% to 60,901 units year to date (YTD) while Lexus sales were 11% lower at 15,155 units. Mercedes-Benzsales increased 5% to 14,003 units followed by Honda 13,581 units (-4%), Hyundai 12,343 (+9%), MG 11,706 units (+134%), China Motor 10,523 (+4%), Nissan 10,078 (-8%), BMW 9,908 (-2%), Tesla 7,788 (+8), Mitsubishi 7,749 (-8%) and Ford 7,198 (-40%).

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Domestic BEV manufacturer Luxgen, a subsidiary of local Nissan assembler Yulon Motor, reported a threefold increase in sales of its locally developed N7 battery powered passenger car to 4,357 units YTD.

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The company began offering a 10% discount on entry level models to TWD999,000 (US$30,550) last month and claimed to have 25,000 preorders for the model.

The move followed the launch by SAIC Motor’s local distributor, MG Taiwan, of its MG4 electric hatchback.