Taiwan’s Car Market Sees Robust Growth in November 2023

Taiwan’s car market saw a 7.5% increase in November 2023 compared to October, with 43,566 units registered, a 9.8% year-over-year growth.

The total registrations for the first 11 months reached 433,826 units, up 11.8% from the previous year.

Hotai Motor, particularly its Yaris Cross model, significantly contributed to this growth, helping Toyota achieve an 18.9% increase and a 30.7% market share.

Other major brands also reported growth. Mercedes-Benz, for instance, saw a 17.5% increase, attributed mainly to the arrival of new batches of the GLC model.

While most major brands showed growth, Hyundai recorded a notable decline, primarily due to reduced registrations of its Austin model. Despite this, the overall market outlook remains positive, with projections indicating an annual total of 480,000 units, consistent with earlier forecasts.

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