Registration Report Analysis - 2025 May Taiwan Car Market

車未來 2025-06-02

Market Overview: In May, the total market registration volume was 31,910 units, marking a slight 2.9% decline from April and a significant 23.1% drop compared to May last year. Among major brands, only Lexus, Hyundai, Mazda, and Mitsubishi showed growth over April, while other major brands experienced varying degrees of decline. Mercedes-Benz saw the sharpest drop at 22.1%, primarily due to a model year transition for the GLC, which resulted in only 515 units registered—a 26% decrease. As of the end of May, the cumulative registration volume for the year was 164,647 units, down 2.9% year-over-year. Although the impact of the U.S. Trump administration's retaliatory tariff policy has subsided this month, the automotive industry is now facing speculation over potential reductions in import duties and commodity taxes. This has caused many consumers to adopt a wait-and-see attitude or delay their purchase plans, resulting in a weakened overall market performance. A return to stability is expected only after the government makes an official announcement. Consequently, our market forecast for the year has been revised downward and is now expected to reach around 425,000 units.

Market share of brands:

Toyota/Lexus continued to lead with a market share of 36.3%. CMC ranked second with 7.1%, while Mercedes-Benz and Hyundai tied for third at 5.7%. BMW came in fourth at 5.1%, followed by Honda in fifth at 3.9%, Mazda and Mitsubishi tied for sixth at 3.6%, and Kia ranked seventh at 3.1%. While most major brands declined from April, Lexus, Hyundai, Mazda, and Mitsubishi showed growth. Mazda recorded the highest growth at 80.5%.

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

The sales ratio between domestic and imported vehicles remained unchanged from last month at 50.8% vs. 49.2%. Compared to the same period last year, imported passenger car sales dropped significantly by 22.6%, though they rose slightly by 0.3% from last month. This was due to declines in key models such as the Toyota RAV4 and Mercedes-Benz GLC. However, the Toyota Alphard and Lexus LM resolved their production constraints and achieved strong deliveries. Overall, both domestic and imported vehicles experienced declines this month, influenced by the gradual fulfillment of previously accumulated orders. Going forward, it will be important to monitor how potential tariff and tax cuts might affect vehicle pricing and trigger clearer market responses.

Outstanding models:

Only four models exceeded 1,000 units in sales this month: Corolla Cross (3,012 units), J Space (1,632 units), Town Ace (1,249 units), RAV4 (1,224 units). In the small commercial vehicle segment, J Space maintained a strong lead over the Town Ace (1,632 vs. 1,249 units), continuing its dominance despite the Town Ace’s recent model year update. This rivalry remains worth watching in the coming months.

BEVs market:

A total of 1,486 battery electric vehicles (BEVs) were delivered this month, nearly identical to last month’s figure, representing a slight 0.75% increase. All major brands maintained steady delivery volumes. Key BEV deliveries for May included: newly launched Volvo EX30 (240 units), Luxgen n⁷ (237 units), Tesla Model 3 (134 units), BMW iX1 (114 units), Macan Electric (109 units), BMW iX2 (97 units), Tesla Model Y (53 units), Mercedes EQE SUV (51 units), BMW iX (46 units), Volkswagen ID. Buzz (42 units). At present, nearly all major brands have at least one consistently selling BEV model, and some models have already undergone facelifts or model year updates. The EV market is maturing, offering consumers a broader range of choices. The upcoming large-scale deliveries of the revamped Tesla Model Y are expected to spark a new wave of buying momentum.