Taiwan’s new vehicle market expanded 11% to 42,359 units in July 2023 from 38,192 units a year earlier, according to registration data compiled by the directorate of highways.

Sales continued to benefit from much improved supplies of semiconductors following last year’s supply chain shortages while demand had also been supported by aggressive promotional campaigns and a significant increase in new model launches in the last year. Sales last month were driven by particularly strong demand for Lexus, Volkswagen and Hyundai.

In the first seven months of the year, total vehicle sales rose by 15% to 277,216 units from 241,343 a year earlier, with sales of locally produced vehicles rising 4% to 143,892 units while sales of imported vehicles surged 30% to 133,324 units.

Toyota seven month sales were just slightly higher at 72,844 units while Lexus volume surged 72% to 20,447 units, driven by strong demand for its NX and RX models.

Honda was the third best selling brand year to date albeit with sales down 3% to 15,892 units followed by Mercedes-Benz with 15,273 units (+16%), Ford 14,078 (-2%), Hyundai 13,408 (+64%), BMW 11,332 (+10%) and Volkswagen 9,680 (+71%).

Tesla led the electric vehicle segment with 7,674 sales YTD, most of which were Model Ys, although BMW gained ground with its iX and i4 SUVs.

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By GlobalData