Taiwan's new vehicle market fell by 9.3% to 43,939 units in July 2020 from strong year earlier sales of 48,429 units, according to local reports citing registration data compiled by Taiwan's Directorate of Highways.
Despite last month's decline, Taiwan's vehicle market has been one of the region's best performers this year, helped by the country's low COVID-19 infection rates. Cumulative seven month sales were down by just 0.6% at 253,720 vehicles compared with 255,351 units in the same period of last year.
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The country's economy has not escaped the ravages of the global pandemic, however, with GDP shrinking by 0.7% year on year in the second quarter – reflecting declining investment, private consumption and exports.
Sales of imported vehicles increased by 5.9% to 124,419 units in the first seven months of the year while domestic sales declined by 6.2% to 129,301 units.
Toyota reported a 4.1% sales rise to 73,011 vehicles year to date, helped by strong demand for the Corolla and RAV4 models; while Yulon Nissan's sales fell by 8.7% to 18,605 units; Honda 16,909 (-15.9%); Mercedes-Benz 15,870 (-6.9%); Lexus 14,202 (+11.2%); and Mitsubishi 13,932 (-6.5%).
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By GlobalData
