Registration Report Analysis - 2024 June Taiwan Car Market

車未來 2024-07-01

Market Overview: Half of this year has passed, and the car market in June has slightly increased by 0.3% compared with Mayl. The total registration number this month is 41,587 units, which is 1.9% lower YOY. This month, all major brands, except for Tesla, which saw a significant growth of 113.7% compared to the previous month due to a large number of deliveries of the updated Model 3 and Model Y arriving by ship, showed varying degrees of growth or decline. The total number of registrations for the year up to the end of June is 232,503 units, a slight decline of 1% compared to last year. The supply of new cars from various manufacturers has now stabilized, and it is noteworthy that our self-owned brand Luxgen n⁷ maintains a registration performance of over a thousand units. Regarding the annual registration numbers, the figures from this month align with our site's forecast, suggesting that the overall numbers will remain close to last year's level.

Market share of brands:

The market share performance of each brand this month is still led by Toyota/Lexus (29.6%). Tesla ranked at 2nd place by 9.4%, and Mercedes-Benz ranked at 3rd place by 5.7%, and BMW ranked at 4th place by 5.5%, and Honda ranked at 5th place by 5.4%, and Hyundai ranked at 6th by 4.7%, and MG ranked at 7th place by 4.1%, and CMC ranked at 8th by 3.9%, and Nissan ranked at 9th by 3.6%. Among the major brands this month, aside from Tesla's significant growth, other brands showed varying degrees of increase or decrease compared to the previous month, with Mercedes-Benz experiencing the largest decline of 11%.

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

The sales ratio of domestic cars and imported cars is 48.3% vs. 51.7% this month. The sales ratio of the imported passenger cars had dropped by 4.1% YOY, but it had increased by 2.7% compared with last month due to the ships keep arrived stably that enables constant delivery.

Outstanding models:

There are 10 models that had more than 1,000 units of sales this month… Corolla Cross (2,293 units), Model Y (2,142 units), RAV4 (1,822 units), Town Ace (1,791 units), Model 3 (1,456 units), Yaris Cross (1,358 units), NX (1,158 units), CR-V (1,096 units), HS (1,040 units), and n⁷ (1,037 units), and n⁷ had more than 1,000 units for the third time that its registration number will be worthy of expectation in the future. In the competition of light duty trucks, The Toyota Town Ace had roughly double the number of registrations this month compared to the Veryca. (1,791 units vs. 964 units).

BEVs market:

The delivery of BEVs is totaling 6,572 units this month, which is 52% higher compared with last month. The main reasons, besides Tesla's continued high volume of deliveries, are the consistent performance of the Luxgen n⁷, which has steadily surpassed the thousand-unit mark. And Model Y has 2,142 units of delivery that occupies roughly 32.6% of market share. In addition, Model 3 has been delivered for 1,456 units, Luxgen n⁷ has been delivered for 1,037 units, iX1 has been delivered for 422 units, iX2 has been delivered for 307 units, Model X has been delivered for 215 units, i5 has been delivered for 141 units, MG4 has been delivered for 122 units, and other brands also have stable deliveries. This month, Luxgen remains the second-largest player in the electric vehicle market. Tesla's large delivery volume due to shipments arriving at port has been significant, but the n⁷'s ability to deliver over 1,000 units for three consecutive months is noteworthy and merits attention for its future developments. Of course, the newly introduced MG4 is also a product not to be underestimated.