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Car market undeterred by COVID-19; sales up over 15% in March
 

04/04/2020

Taipei, April 4 (CNA) Although the escalation in COVID-19 spread worldwide is broadly making consumer less willing to spend, the local car market appears undaunted, with sales rising more than 15 percent from a year earlier in March, according to government statistics.

Data compiled by the Ministry of Transportation and Communications (MOTC) based on the number of cars delivered in March showed that car sales in the month totaled 37,279 units, up 15.1 percent from a year earlier.

On a month-on-month basis, car sales soared 36.3 percent, the data indicated.

The MOTC calculates a sale at the time a car is delivered and given a license plate, rather than when a sales contract is signed.

Commenting on the spike in car sales in March, car vendors said many consumers simply wanted to drive themselves instead of taking public transport to avoid the danger of infection.

In addition, a sharp fall in fuel prices also encouraged consumers to drive, car vendors added. This week, domestic gasoline prices fell to their lowest level since September 2002 amid weakening global demand for crude oil during the virus pandemic and the fall is expected to continue next week.

On the back of a strong showing in March, car sales for the first quarter of this year rose 8.2 percent from a year earlier to 104,046 units, the data showed.

In March, Hotai Motor Co., the local sales agent for Japan's Toyota Motor Corp., remained the largest car supplier in Taiwan after selling 11,726 units, up 23.5 percent from a year earlier and also up 34.4 percent from a month earlier. Hotai took a 31.5 percent share of the local car market in March.

The company said the sales growth largely resulted from the rising popularity of its upgraded Corolla Altis and RAV4 models.

China Motor Corp., which markets cars under the Mitsubishi brand, came in second, selling 3,812 cars in March, taking 10.2 percent of the local car market. China Motor's car sales in March rose 0.8 percent from a year earlier and were up 20.6 percent from a month earlier.

German luxury car brand Mercedes-Benz took a 7.2 percent share of the local car market in March, when the vendor sold 2,693 cars, up 6.8 percent from a year earlier and up 42.6 percent from a month earlier.

Yulon Nissan Motor Co., which sells models under the Nissan brand, came in fourth, selling 2,328 cars units, down 22.6 percent from a month earlier and up 2.8 percent from a year earlier, to take a share of 6.24 percent.

Honda Taiwan took fifth spot, selling 2,323 cars, a 6.23 percent share of the market in March.

Market analysts said the sales growth in the local car market in March came on the back of a strong showing by foreign brands.

In addition to Mercedes-Benz, U.S.-based electric car brand Tesla Inc. sold 1,517 units to take a 4.1 percent share of the local market, helping the vendor rank among the top 10 for the first time in eighth spot.

(By Han Ting-ting and Frances Huang)

 

Link, https://focustaiwan.tw/business/202004040011

 

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