Taiwanese Vehicles Sales fell 3.2% in 2018 interrupting the positive performances scored in recent years, closing with 432.314 sales. Despite the fall by 10%, Toyota is still the market leader, ahead of Honda and Nissan.
Taiwanese economy have continued waning in the fourth quarter—after logging a marked deceleration in the third quarter—according to available economic data. Notably, the PMI fell into concretionary territory in October before dipping again in November, while exports unexpectedly declined in November, largely due to weaker smartphone demand.
Though export orders were robust in October, the softer demand for tech products will likely continue to weigh on the trade sector until year-end. Meanwhile, the more subdued private spending observed in Q3 looks poised to continue in Q4, as consumer confidence fell again in November.
Growth should moderate starting next year, as the external sector—and particularly electronics exports—remain particularly vulnerable to an escalation of the Sino-American trade war. Though private consumption is seen waning, it should nevertheless remain resilient due to low unemployment, while the TWD 228 billion infrastructure package approved for 2019 and 2020 will support investment momentum.
Taiwanese vehicles market in recent years grew up with a series of all-time record and after outpacing the 400.000 annual units in the 2014 is actually running towards the milestone of half a million. On this road, during the 2017 sales hit the new all time record, the second in a row, with 443.465 units sold (+1.6%), according to the data released by the T.T.V.M.A., the Taiwan Transportation Vehicle Manufacturing Association.
In 2018 the vehicles market has decelerated. After a good start, the year ended with 432.314 sales losing 3.2% from the previous year. Indeed, the market has interrupted the positive growth of recent years, closing registrations at the lowest volume since 2015.
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At brand-wise, the 2018 market leader is Toyota selling 102.961 units (-9.7%), more than twice the sales of Honda in second place, ending with 38.822 units (+13.9%).
In third place Nissan with 34.577 (-15%), ahead of Mercedes with 29.172 (+4.1%), Mitsubishi with 24.529 (+8.2%), Mazda with 23.724 (+6.1%), CMC with 22.251 (-2.8%) and Lexus with 17.806 (+23.1%).
At model-wise, the best-selling model of the year was the Toyota Corolla with 27.912 sales – losing 30% – followed by the Toyota RAV4 with 18.876 (-15.9%), the Honda CR-V with 18.673 (+64.6%) and the new Toyota Sienta with 15.699 (+7.7%).
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