Not enough to sell: February auto market falls into recession

With old and new models facing a transition, domestic automakers fell into the predicament of having no cars to sell in February, causing Yulon Nissan Motor and Hotai Motor to see sharp revenue declines. Institutional investors believe that after the new models are launched, Taiwan's auto market is expected to gain another wave of momentum.

Hotai Motor reported consolidated revenue of NT$10.231 billion for February, down 29.2% month-on-month and up 3.9% year-on-year; cumulative consolidated revenue for January to February was NT$24.69 billion, down 9.3% year-on-year.

Yulon Nissan Motor reported consolidated revenue of NT$1.656 billion for February, down 52.5% month-on-month and up 2.1% year-on-year; cumulative consolidated revenue for January to February was NT$5.145 billion, up 0.4% year-on-year.

SinoPac Securities Investment Service said that because some VIOS and LIVINA models had already stopped production in the fourth quarter of last year, and the new cars only began mass production in the second quarter, Taiwan's new car registrations in February were only about 20,000 units. However, with Taiwan's economic conditions improving and replacement demand still present, Taiwan's auto market is estimated to reach 390,000 units this year, a new high since 2005.

▲With old and new models facing a transition, domestic automakers fell into the predicament of having no cars to sell in February. After the new models are launched, Taiwan's auto market is expected to gain another wave of momentum. (Central News Agency file photo)