Copyright FOURIN, Inc. 2023
Taiwan’s Automobile Sales Results in YTD June 2022
Automobile sales in Taiwan decreased 8.4% year-on-year to 203,000 units in the first half of 2022. Although Taiwan's economy is expected to grow steadily, mainly driven by exports of electronic components, the automobile market is shrinking. Monthly sales volume since June 2021 have been falling below the results for the same month of the previous year mainly due to global shortage of vehicle supply. In addition, since April 2022, COVID-19 infections have been rapidly expanding in Taiwan which hinders economic activities such as retail sales.
The government is tightening exhaust gas and fuel efficiency regulations in an effort to boost replacement demand; however, the shortage of automobiles will continue in the second half of 2022, and the market size for the whole year is expected to shrink from the previous year.