Registration Report Analysis - 2023 July Taiwan Car Market

車未來 2023-08-01

Market Overview: The car market in July is almost remain the same as that in June, and the total registration number this month is 42,359 units, which is 10.9% higher YOY. This month is not only the summer vacation but also the peak season before the ghost month. From the registration number this month, we can see that Toyota is still the leader among brands. Corolla Cross had significantly increased by 62.9% compared with last month, which has 4,042 units of delivery. Besides, Corolla Altis has 1,682 units of delivery, plus the imported RAV4 had increased by 12.8% compared with last month, which has 2,022 units of delivery. Therefore, the market share of Toyota had reached 30.7%, which is 38.7% higher than last month. In addition, Lexus ranked at 2nd place this month due to the enormous delivery of NX, plus the nice performance of RX and UX.

Market share of brands:

The market share performance of each brand this month is still led by Toyota/Lexus (39%), and CMC/Mitsubishi/MG ranked at 2nd place by 10.1%, Ford and Hyundai ranked at 3rd place by 4.9%, and Mercedes-Benz ranked at 4th place by 4.6%, and Nissan/Infiniti ranked at 5th place by 4.3%, Volkswagen and Honda ranked at 6th place by 4.1%, and BMW ranked at 7th place by 3.9%. Toyota, Lexus, Ford, Volkswagen, and Nissan had increased compared with last month.

Comparison between domestic cars and imported cars (excluding heavy duty trucks):

The sales ratio of domestic cars and imported cars is 52.1% vs. 47.9% this month. Both domestic and imported passenger cars have better sales ratio YOY, but domestic commercial cars have lower sales ratio YOY. Compared with last year and the beginning of this year, the supply chain of new cars has significantly recovered, but the sales ratio in the future will still be influenced by the actual supplies. However, as the supply become stable, the registration ratio could show the actual market reaction.

Outstanding models:

There are 7 models that had more than 1,000 units of sales this month… Corolla Cross (4,042 units), RAV4 (2,022 units), Corolla Altis (1,682 units), Town Ace (1,639 units), NX (1,597 units), HS (1,163 units), and Veryca (1,104 units). In the competition of light duty trucks, Toyota Town Ace outperformed the CMC Veryca (1,639 units vs. 1,104 units). Town Ace van accounts for 38.1% of the total sales, and that of Veryca is about 40.8%.

BEVs market:

The delivery of BEVs is totaling 1,570 units this month, which is 56.5% lower compared with last month due to the decrease of Tesla’s supplies. And Model Y has been delivered 303 units that occupies 19.3% of market share. In addition, Taycan has been delivered for 182 units, iX has been delivered for 166 units, i4 has been delivered for 145 units, iX1 has been delivered for 105 units, XC40 Recharge has been delivered for 103 units, EV6 has been delivered for 93 units, Model X has been delivered for 62 units, EQA has been delivered for 51 units, Ioniq 5 has been delivered for 50 units, and many other brands also had deliveries that made the market more diversified compared with last year.