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Taiwan’s Automobile Production and Exports Results in 2023

Taiwan’s automobile production in 2023 increased by 8.5% from the previous year to 283,531 units. Production for the domestic market rose 7.5% from the previous year, while exports went up 15.1%. Although production has not exceeded the 300,000-unit level since 2017 due to a decline in exports, it was the highest since 2017. In addition to the Toyota brand, production was particularly driven by the MG brand, whose local manufacturing began in September 2022.

Automobile exports increased by 15.1% from the previous year to 42,120 units. Toyota accounted for most exports, with the Corolla Altis (incl. HEV) increasing by 16.2% to 32,794 units, and the Corolla Cross (incl. HEV) rising by 17.1% to 8,619 units.

Looking at production results by manufacturer, four companies increased production out of the seven automakers operating in Taiwan. Kuozui Motors’ production increased by 8.6% from the previous year to 143,102 units of which the Toyota brand accounted for 136,284 units, up 10.3%. China Motor’s production rose 16.0% to 46,432 units. Although the CMC and Mitsubishi brands declined by 21.3% to 17,575 units and 10.4% to 14,143 units, respectively, the MG brand, which went into production in September 2022, added 14,106 units to the total. The other two automakers that raised production were Honda Taiwan, up 11.2% to 29,773 units, and Sanyang Motor, up 59.4% to 21,010 units.

On the other hand, Yulon Motor saw a drop in production, going down 4.3% to 23,885 units of which the Nissan brand accounted for 21,715 units. The other two automakers that endured a decrease in production were Ford Lio Ho, down 19.5% to 18,702 units and Formosa Automobile, down 49.4% to 627 units.

Graph: Taiwan: Production Volume of Automobiles by Market Destination and Export Share (2014-2023)Graph: Taiwan: Production Volume of Automobiles of the Top Six Manufacturers (2018-2023)
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