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Taiwan's new vehicle market inched lower in February 2021, to 27,174 units from 27,350 units in the same month of last year, according to local reports citing registration data compiled by the Directorate of Highways.

Underlying demand in this market remained strong, however, after sales in January surged by almost 30% to 51,179 units. February also had fewer working days than last year due to the Lunar New Year.

The performance of the individual brands varied significantly last month. Toyota distributor Hotai Motor reported a 12% year-on-year sales decline to 7,718 units in February, despite strong demand for the recently launched Corolla Cross SUV with sales of 2,205 units.

Daimler's Mercedes-Benz sales increased by over 23% to 2,325 units while Yulon Nissan volume declined 6.9% to 2,154 units. Honda Taiwan reported 1,779 sales with the CRV SUV alone accounting for 1,402 units. Ford Lio Ho saw its sales jump by 29% to 1,630 units last month while Mazda Motor Taiwan saw a surge of almost 60% to 1,579 units.

Overall sales in the first two months of 2021 were up by over 17% at 78,353 units from 66,767 units in the same period of last year.

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By GlobalData