Taiwan’s Automobile Sales by Segment in 2023

Taiwan’s automobile market reached a high level of 477,021 units in 2023, an 11.0% increase from the previous year, as the shortage of imported vehicles eased. Passenger cars decreased by 2.4% to 90,455 units, but SUVs increased by 15.2% to 171,807 units, and premium brand models went up by 19.0% to 114,312 units, achieving new record highs which pushed up the market.

While the market was expanding, passenger car sales declined for the ninth consecutive year. The B segment, the second largest segment in the passenger car category, dropped 14.7% to 29,497 units. However, sales of the C segment, the largest passenger car segment, increased by 1.5% year-on-year to 50,041 units, marking the first increase in nine years.

SUV sales decreased for the first time in 10 years in 2022 due to vehicle supply shortages, but in 2023 they hit a new record high for the first time in two years. Sales of small SUVs rose by 50.6% from the previous year to 52,778 units. Sales of medium and large SUVs, Taiwan’s largest segment, went up by 4.4% year-on-year to 119,029 units.

In the premium brand segment, Lexus exceeded 30,000 units for the first time, an increase of 55.6%, taking the top spot from Mercedes-Benz which sold a little less than 25,000 units. The top two were followed by BMW and Tesla with around 18,000 and 13,000 units respectively.