Registration Report Analysis - 2025 January Taiwan Car Market

車未來 2025-02-03

Market Overview: The total market volume in January reached 35,064 units, reflecting a significant decline of 15.1% compared to December and an even sharper year-over-year drop of 21.8%. This month, apart from Toyota, Lexus, Mercedes-Benz, and CMC, which showed varying degrees of growth, other major brands experienced declines. Honda stood out with a growth rate of 56.1%, mainly because CR-V registrations dropped by 57.6%, while HR-V saw an even steeper decline of 64.4%. The first month of 2025 was impacted by the Lunar New Year holiday, leaving only 17 working days for vehicle registrations. Despite various promotional offers and incentives launched by different brands, overall market performance remained weak due to the reduced number of registration days and model year transitions. Looking ahead to the full-year forecast, the 2025 market is expected to be influenced by uncertainties such as U.S. President Trump’s policies and China’s economic strategies, making it unlikely to surpass the performance of 2024. Future market trends will require close monitoring.

Market share of brands:

In terms of market share, Toyota/Lexus remained the leader with 46.6%, followed by Mercedes-Benz at 8.8% and CMC at 6.0%. Honda and BMW tied for fourth place with 3.9%, while Hyundai ranked fifth (3.5%), Nissan sixth (3.3%), Mazda seventh (3.2%), and Mitsubishi eighth (2.8%). Most major brands experienced some level of decline, but Toyota, Lexus, Mercedes-Benz, and CMC managed to achieve growth, with Lexus standing out with an impressive 86.4% increase.

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

The sales ratio of domestic to imported vehicles in January was 52.7% vs. 47.3%. Sales of imported passenger vehicles saw a significant year-over-year decline of 13.1% and a sharp month-over-month drop of 16.6%. This was mainly due to lower registration numbers for key imported brands such as BMW, Mazda, Volkswagen, and Skoda. Additionally, many core models were affected by model year transitions, which impacted deliveries. However, with new vehicles expected to arrive after the Lunar New Year, supply is projected to stabilize.

Outstanding models:

Eight models surpassed 1,000 units in sales this month: Corolla Cross (4,336 units), RAV4 (2,107 units), Yaris Cross (1,829 units), NX (1,607 units), Town Ace (1,545 units), J Space (1,418 units), Corolla Altis (1,049 units), GLC (1,014 units). In the light commercial vehicle segment, J Space maintained strong registration figures but was overtaken by Town Ace (1,418 vs. 1,545 units). The fierce competition between the two models has intensified following J Space’s model update, making their future sales trends worth watching.

BEVs market:

A total of 2,209 battery electric vehicles (BEVs) were delivered this month, representing a sharp 41% decline from the previous month. The primary reason was the absence of Tesla shipments, which resulted in an 88.9% drop in Model Y deliveries, as sales relied on in-stock units. Other electric vehicle brands maintained stable deliveries in January. The Macan Electric saw significant initial deliveries, registering 337 units. Other key BEV figures include: n⁷ (564 units), Model Y (310 units), EQE SUV (134 units), EQA (112 units), iX1 (82 units), bZ4X (69 units), iX2 (54 units), EQB (53 units), iX (51 units). Last year, the BEV segment achieved a record high of 38,000 total registrations. With the recent extension of the license tax exemption until the end of 2030, the market is expected to maintain steady growth. Additionally, the introduction of the Model B production version and the arrival of the updated Model Y could usher in a new phase of expansion for the electric vehicle market.