2013-02-24 15:35:47 - New Transportation market report from Business Monitor International: "Taiwan Autos Report Q1 2013"
Taiwanese car sales began to drop in late 2012, according to figures from the Ministry of Transportation and Communication (CENS), reports that 28,726 new cars were sold in November 2012, down 10% y-oy. This slowdown in sales over the course of 2012 has meant that in the first 11 months of the year sales were down 4.6% y-o-y. 2012 is set to be the first year in three years that sales have shrunk in Taiwan.
Industry figures have blamed the lower sales on increasingly weak consumer confidence which has meant that attempts by distributors to stoke demand have been unsuccessful. Nevertheless, many are still optimistic as the downturn is not thought to herald a dramatic slump in sales and prior growth
may have reflected pent-up demand in the wake of the economic crisis. Luxury car sales were also a bright spot, with BMW and Mercedes sales topping 1,000 in November alone. This performance is worse than many analysts had expected.
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A new lithium battery plant is set to be built in Taiwan. Japanese firms Sanyo and Sony are set to invest in the new plant after talks with the Taiwanese government. The government is currently helping the Japanese firms find a local partner for the plant. Electric vehicle batteries will be a major focus of the plant, meaning that local firm Yulon Motor is a front-runner along with Simplo Technology for the deal. Taiwan's government has made a strategic decision to foster the development of a local electric vehicle market, explaining their involvement in this planned manufacturing centre.
Taiwan's largest automobile manufacturer, Yulon Group, aims to sell 50,000 LUXGEN-branded vehicles on the Chinese mainland in 2013. The cars are made on the mainland as part of a joint venture between Yulon and the major Chinese firm Dongfeng. Around 33,000 LUXGEN vehicles were sold across the straits in 2012, according to estimates published in CENS. Yulon's presence in the mainland's market has become a major focus for the firm, which recently issue bonds to finance an expansion of its distribution chain in China. The firm already has around 200 sales points throughout the country.
China Motor Corp (CMC) has announced that it intends to increase its vehicle exports by 54% in 2013. The company, which assembles Mitsubishis and manufactures CMC branded vehicles, has only just begun exporting vehicles. In 2012 the company began to sell the Mitsubishi Lancer Fortis models in the Middle East, alongside the Veryca and Zinger vans. It is hoping that in 2013 the number of Lancer Fortis models sold abroad will reach 3,000. The company is particularly important in Taiwan's commercial vehicle market, having a 75% market share in 2012.
The market share of Hotai Motor, the agents of Toyota and Lexus in Taiwan, has increased to 33.5% in 2012. CENS reports that this is up from 31.6% in 2011. Over the first 11 months of the year the company sold 112,000 vehicles in Taiwan, up 0.9% y-o-y despite total Taiwanese car sales dropping 4.6% y-o-y. The company hopes to increase its market share to just under 35% by the end of 2013. This increased sales performance has driven up revenue to US$2.83bn in the first 11 months of the year.
Report Table of Contents:
- Taiwan Autos Industry SWOT
- Taiwan Political SWOT
- Taiwan Economic SWOT
- Taiwan Business Environment SWOT
- UK Boosts Europe, But Favourites Still Outperform
- Table: Passenger Car Sales 8M12
- Incentive Boom For Japan, US Powers On
Industry Risk/Reward Ratings
- Table: Business Environment Ratings - Autos Industry Asia Pacific
- Japanese Autos: Outlining The Bear Case Alternatives
Macroeconomic Forecast Scenario
- Table: Taiwan Economic Activity
Industry Forecast Scenario
- Domestic Sales
- Table: Auto Sales, 2008-2016
- Table: Auto Production, 2008-2016
- Table: Trade, 2008-2016
- Market Overview
- Table: Taiwan - Vehicle Production By Manufacturer, 2011
- Table: Taiwan - Vehicle Sales By Manufacturer, 2011
Passenger Cars - Forecast And Analysis
- Table: Passenger Cars - Production And Sales, 2008-2016
Commercial Vehicles - Forecast & Analysis
- Table: Commercial Vehicles - Production And Sales, 2008-2016
- Heavy Commercial Vehicles
- Table: Motorcycles - Production, Sales And Exports, 2008-2016
- Mercedes Takes Knocked-Down Route To Asia
- Kuozui Motors (Toyota Motor)
- China Motor Corporation (CMC)
- Yulon Group
- How We Generate Our Industry Forecasts
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