Registration Report Analysis - 2023 September Taiwan Car Market

車未來 2023-10-02

Market Overview: Although half of September being in the period of Ghost month, the car market in September still increased by 4.7% compared with August. The total registration number this month is 37,083 units, which is 3.5% higher YOY. The accumulated registration number in the first 9 months of this year is 349,720 units, which is 12.2% higher than last year that is in the pandemic. The registration numbers of the main products of the leader – Hotai Motor had decreased compared with last month, isn’t due to the production of Yaris has been ended but also the new Yaris Cross is launched on 28th September, which made the registration kept dropping just like in August. However, the drop of the registration of Hotai Motor is lowered to 984 units this month, which is less than August. There are many major brands had growth in various scale this month that only Ford had significantly dropped by 28.9%, and the reason is that the Focus had delivered 685 units, which is 31.6% lower compared with August, and Kuga had delivered 418 units, which is 35.2% lower compared with August. The car market is gradually recovering stably, and there are many important models to be launched in the upcoming months this year, so the prediction of the annual car market when entering Q4 could be 480,000 units

Market share of brands:

The market share performance of each brand this month is still led by Toyota/Lexus (28.9%), and CMC/Mitsubishi/MG ranked at 2nd place by 11.7%, and Honda ranked at 3rd place by 6.6%, and Nissan/Infiniti ranked at 4th place by 6.3%, and Hyundai ranked at 5th place by 5.3%, and Mercedes-Benz ranked at 6th place by 5.0%, Ford and BMW ranked at 7th place by 3.7%. With the exception of Ford that had heavily drop compared with August, other major brands had increased, and Ford had dropped by 28.9% that is the most significant.

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

The sales ratio of domestic cars and imported cars is 53.3% vs. 46.7% this month. Both domestic and imported passenger cars have better sales ratio YOY and compared with August, and the imported passenger cars had 25.9% of growth YOY that might due to the more sufficient supply of new cars. Compared with last year and Q1 of this year, the supply chain of domestic new cars and imported new cars has significantly recovered after the end of Q3, which made the accumulated registration number in the first 9 months of this year increased by 12.2% YOY. There are many important new cars to be launched before the end of this year, so that the influence of the sales ratio of domestic cars and imported cars is worthy of attention.

 

Outstanding models:

There are 6 models that had more than 1,000 units of sales this month… Corolla Cross (2,859 units), Town Ace (1,684 units), CR-V (1,388 units), Veryca (1,304 units), X-Trail (1,225 units), and HS (1,105 units). In the competition of light duty trucks, Toyota Town Ace still outperformed the CMC Veryca this month (1,684 units vs. 1,304 units). Town Ace van accounts for 36.3% of the total sales, and that of Veryca is about 47.5%, both vans have higher ratio compared with last month.

BEVs market:

The delivery of BEVs is totaling 2,069 units this month, which is about 23.5% significantly higher compared with last month due to not only the increase of Tesla’s supplies, but also the stable deliveries of BEVs among brands. And Model Y has been delivered 633 units that occupies 30.6% of market share. In addition, Model X has been delivered for 398 units, Model S has been delivered for 210 units, i4 has been delivered for 146 units, EQA has been delivered for 101 units, iX has been delivered for 80 units, EQE SUV has been delivered for 78 units, XC40 Recharge has been delivered for 69 units, EV6 has been delivered for 57 units, bZ4X has been delivered for 417units, Ioniq 5 has been delivered for 35 units, and many other brands also had continuously stable deliveries that made the registration of BEVs this month reached 35 types of model.