New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/18/2013 -- 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.
View Full Report Details and Table of Contents
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.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Malaysia Autos Report Q1 2013
- South Korea Autos Report Q1 2013
- Vietnam Autos Report Q1 2013
- Russia Autos Report Q1 2013
- Morocco Autos Report Q1 2013
- Mexico Autos Report Q1 2013
- China Autos Report Q1 2013
- Thailand Autos Report Q1 2013
- Brazil Autos Report Q1 2013
- Japan Autos Report Q1 2013
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)