2014-01-09 08:37:01 - Taiwan Autos Report Q1 2014 - a new market research report on companiesandmarkets.com
According to the Taiwan Transportation Vehicle Manufacturers Association (TTVMA), October 2013 auto sales declined 3.8% year-on-year (y-o-y), to 22,774 units. While commercial vehicle (CV) sales continued their dismal performance since the start of 2013 by declining 13.6% y-o-y in October (see ´CV Segment Woes Result In Downgrades´, September 4), the passenger car segment has also clocked up poor sales during the past few months causing 10M13 sales in the segment to contract by 3.0%, to 178,993 units.
Although commercial vehicle (CV) sales are in line to meet our bearish full-year growth forecast of -13.9%, car sales have been doing worse than expected, and we are therefore downgrading our 2013 passenger car sales growth forecast to 1.0%, to 214,000 units, from 4.0%
previously. This will then bring our total 2013 vehicle sales growth forecast to -2.2%, to 264,000 units, from 0.1% previously.
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