New vehicle sales last month rose 5.5 percent from May to 32,631 units, beating market expectations of a flat performance, as moderating local COVID-19 infections gave the market a boost, data released by the nation’s motor vehicle offices showed yesterday.
That represented an annual expansion of 16.8 percent.
As the number of confirmed COVID-19 cases seems to have peaked, consumers were more willing to visit car dealers, said Hotai Motor Co (和泰汽車), which distributes Lexus and Toyota models in Taiwan.
Hotai was expecting new vehicle sales to be little changed from May, given chip supply constraints and key component shortages due to
New vehicle sales last month unexpectedly plummeted 12.3 percent from April to about 30,992 units, as COVID-19 lockdowns in Shanghai further disrupted component supply chains and vehicle production, data released by the nation’s motor vehicle offices showed yesterday.
People also became more cautious about buying big-ticket items as rising inflation continues to weigh on the nation’s economic growth, and fear of contracting COVID-19 kept them out of vehicle showrooms.
In the first five months of the year, new vehicle sales tumbled 12 percent year-on-year to 170,520 units.
Hotai Motor Co (和泰汽車), which distributes Lexus and Toyota models in Taiwan, said its new vehicle