Market Overview: As nine days of February fell within the Lunar New Year holiday period, and the month-end also coincided with the 228 Peace Memorial Day long weekend, coupled with the fact that February had the fewest available registration days of the year, total market registrations declined sharply by 37.2% compared with January, and fell 19.1% year-on-year, reaching 22,043 units. This month, all major brands recorded declines of varying degrees, with the sole exception of Suzuki, which grew by 34%. Among them, Lexus experienced the most severe decline at 58.2%, mainly because its core model lines—UX, NX, and RX—were undergoing model-year transitions, leading to reduced registrations. Of these, the UX saw the most pronounced drop, plunging by 97.1%. Cumulative registrations from January through the end of February totaled 57,116 units, representing a year-on-year decline of 8.7%. Regarding the full-year market outlook, the market leader Hotai Motor has recently projected that total sales could reach 440,000 units, implying nearly 6.2% growth compared with 2025. In our view, once the U.S. reciprocal tariff issue becomes clearer and domestic regulatory adjustments are completed, there should be room for a certain degree of price and market correction. For consumers who remained on the sidelines last year, the second half of this year is likely to be a favorable time to purchase, which could in turn help lift overall vehicle registrations and support the outlook for market growth compared with 2025.

Market Overview: Total new vehicle registrations in January reached 35,073 units, representing a 25.9% decline compared with December last year, but remaining flat compared with January last year. As the first month of 2026, major automotive brands showed a mixed performance of gains and declines. Among them, Ford recorded the largest increase at 115.3%, mainly driven by the Territory, which alone registered 1,333 units and contributed as much as 41.4% of the brand’s month-on-month growth. Among the major brands, Mercedes-Benz saw the most severe decline, falling 31.7% compared with December last year. The main reasons were the model-year transition of its core model GLC, while the all-new, fully redesigned CLA has yet to be launched. Looking ahead to the overall market in 2026, greater challenges are expected compared with last year. However, the domestic economy is likely to be supported by the AI and semiconductor industries, keeping related exports on a growth trajectory. Coupled with policy incentives such as trade-in programs and excise tax rebates, surpassing the 2025 total of 414,436 units is considered highly achievable.

Market Overview: The total number of new vehicle registrations in December reached 47,303 units, representing a 29.7% increase compared with November and a 14.5% increase compared with December last year. As the final month of 2025, all brands actively focused on selling existing model-year vehicles to accelerate inventory clearance, while also aggressively collecting orders for new model-year vehicles. Combined with the effectiveness of the excise tax rebate policy for vehicles under 2,000cc, all major brands except Lexus recorded growth compared with November, with Tesla posting the largest increase at 942.7%. Among the major brands, CMC recorded the smallest increase at 2.2%, while Lexus was the only brand to post a decline, falling by 29.1%, mainly due to reduced deliveries of its key models including the NX, RX, UX, and LBX compared with November. For the full year of 2025, total market registrations amounted to 414,436 units, a 9.5% decline compared with last year. This outcome aligns with our forecasts over the past several months and successfully keeps the annual decline within 10%. Throughout 2025, the automotive market faced significant challenges due to tariff-related issues associated with U.S. President Donald Trump. Although the domestic economy has remained generally stable, the outlook for the market next year cannot be viewed with excessive optimism.

Market Overview: The total number of new vehicle registrations in November was 36,485 units, representing a 5.7% increase compared with October but a 6.9% decline compared with November last year. Aside from encountering a typhoon, this month did not have any long holiday effects, and the sales performance of major brands showed mixed results compared with October — with some rising and others declining. Mercedes-Benz recorded the highest growth at 26.4%, mainly due to the large arrival and delivery of its core model, the GLC, which reached 536 registrations, marking a 10.5% increase over last month and an 8.7% increase compared with November last year. Among major brands, Ford experienced the most significant decline this month at 7.4%. It is anticipated that once the all-new Territory officially launches and begins deliveries, Ford will regain some sales momentum and return to growth. As of the end of November, the cumulative number of registrations this year reached 367,133 units, a decline of 11.9% compared with last year. Entering the second month of the fourth quarter, many brands introduced promotional offers for older model-year or current model-year vehicles, and models with engine displacement under 2,000cc continued to benefit from the excise tax rebate, helping maintain market demand and bringing slight growth compared with October. Regarding this year’s overall market forecast, we believe there is a chance the annual decline can be kept within 10% compared with last year. However, as existing back-order vehicles gradually finish delivery, next year will still pose considerable challenges for many automakers.

Market Overview: The total number of new vehicle registrations in October was 34,511 units, showing a 7.1% increase compared with September and a 3.9% increase compared with October last year. Although the number of working days was fewer this month due to consecutive holidays such as the Mid-Autumn Festival, Double Tenth Day, and Restoration Day, these holidays also stimulated consumers to visit showrooms for car viewing, test drives, and purchases, resulting in growth for almost all major brands. Among them, Toyota posted the highest growth at 28.1%. The brand with the smallest increase was Mazda, mainly because the CX-5 is about to undergo a full model change, leading to a significant 37.2% decline in registrations compared with last month and a 19.9% decline year-on-year. As of the end of October, the cumulative number of registrations this year reached 330,648 units, representing a 12.4% decline compared with the same period last year. This month, it was observed that cars with engine displacements under 2,000cc enjoyed stronger sales momentum thanks to the excise tax rebate policy. In addition, sales competitions and promotional campaigns launched by various brands also boosted consumer purchasing willingness. October, being the first month of the fourth quarter, serves as a key checkpoint for automakers to assess performance and prepare for model-year transitions. Consumers planning to buy a car may take this opportunity to visit showrooms for consultation, as they might find favorable offers. Our site maintains the view that the overall market this year will decline by around 10% compared with last year, and the probability of a major market shift in the final quarter of 2025 remains relatively low.

Market Overview: In September, total market registrations reached 32,227 units, representing a 9.4% increase from August but an 11.8% decline compared to September last year. Most major brands posted growth this month, with Mercedes-Benz recording the highest surge at 65%. The steepest decline came from Lexus, whose core model NX faced a model-year transition, resulting in a 37.3% drop in deliveries. As of the end of September, cumulative registrations for the year stood at 296,137 units, a 13.9% decrease compared to last year. While the market continued to be affected by tariff and commodity tax issues, September also coincided with the Ghost Month, typically a sales lull. However, the government’s new policy granting up to NT$50,000 in commodity tax rebates for newly purchased passenger cars under 2.0L displacement boosted buying momentum. As the market enters the final quarter of 2025, automakers are pushing hard to secure orders, though some brands have declared they will not lower prices—an approach whose impact on sales remains to be seen. For the full year, our forecast suggests that, even in the most optimistic scenario, the market will still end about 10% lower than last year.

Market Overview: In August, total market registrations reached 29,460 units, representing a sharp 17% decline from July but a slight 0.2% increase compared to August last year. Among major brands, only Lexus and Tesla posted growth over July, while all others experienced declines. Mercedes-Benz suffered the steepest drop at 50.7%, due not only to consumer hesitation caused by tariff and commodity tax uncertainty, but also to sharply reduced deliveries of key models such as the GLA, GLC, and E-Class as they transitioned to new model years. As of the end of August, cumulative registrations for the year stood at 263,910 units, a 14.2% decline compared to last year. Despite aggressive promotional campaigns ahead of the Ghost Month, consumer sentiment remained cautious. With no clarity on adjustments to import tariffs and commodity tax, buyers continued to postpone purchases, leaving automakers with mounting inventory pressure. Our forecast for this year’s total market has been revised downward, with an expected decline of 10–15% compared to last year.