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Taipei, Sept. 3 (CNA) Car sales in Taiwan topped market forecasts in August as auto vendors launched promotional efforts to boost buying and an increase in imported models stimulated further interest, which overcame a buying taboo for Ghost Month, according to statistics compiled by local transportation authorities.
Car sales in the local market totaled 34,416 units in August, beating the previous forecast of about 32,000 units. The August sales rose by 3.8 percent from a year earlier but fell by 9.9 percent from a month earlier.
The better-than-expected sales defied conventional wisdom about the impact from the Ghost Month, the eighth month of the year on the Chinese calendar, when traditionally, many consumers are reluctant to buy big ticket items, such as cars and homes, to avoid bad luck.
This year’s Ghost Month started on July 29 and ran until Aug. 26.
In Taiwan, the Ministry of Transportation and Communications records a sale as happening on the day a car is delivered and given a license plate, rather than when the sales contract is signed.
Market sources said that on the back of one of the successful promotional campaigns, Hotai Motor Co., which serves as the sales agent for Toyota and Lexus in Taiwan, posted its highest sales in August of 10,255 units, 9,101 of which were Toyota models and 1,154, Lexus models.
Hotai accounted for 29.8 percent of the local auto market, retaining its position as the top car vendor in Taiwan in August.
Toyota continued to serve as the top selling brand in Taiwan in August, ahead of Honda, Ford, Nissan, Volkswagen, Tesla, and BMW, the data showed.
In the wake of an increase in imports, Tesla enjoyed a 303.2 percent year-on-year increase in sales in August as it sold 1,774 units for the month, while Volkswagen sold 1,805 units, up by 41.5 percent from a year earlier.
In addition, BMW sold 1,670 units, up by 23.4 percent from a year earlier, but Lexus saw its sales fall by 42.5 percent from a year earlier to 1,154 units due to a continued shortage in chip supplies.
Looking ahead, car vendors said, although geopolitical tensions, a global rate hike cycle, and interruptions in the global supply chain will continue to impose uncertainty on consumption, Taiwan has seen fears over domestically transmitted COVID-19 infections easing and demand for sport utility vehicle (SUV) models growing, which is expected to pave the path for further sales growth in September.
In addition, several major car brands, such as Toyota, Ford, Audi and Hyundai, will continue their promotional campaigns to try and boost sales for this month, car vendors said.
There is a consensus in the market that sales in September will surpass 35,000 units, car vendors added.
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