Hotai Motor Co. tops auto sales in Taiwan for 11th consecutive year


CNA

TAIPEI — Hotai Motor Co., the Taiwanese sales agent for Japan’s Toyota Motor, said yesterday it retained its place in 2012 as the top auto vendor in Taiwan, in terms of market share, for the 11th consecutive year.

Despite the effects of the global economic downturn and fuel price hikes on the auto industry last year, Hotai Motor said, it “performed outstandingly” with a 33.8-market share — its highest since 2005.

Hotai Motor reported sales of 123,740 units last year, which represented an annual growth rate of 3.6 percent.

Looking ahead, Hotai Motor expressed optimism about the domestic auto market this year, predicting sales would reach about 370,000 based on demand for the replacement of old vehicles, despite the global economic uncertainty.

A total of 365,871 new automobiles were registered in Taiwan last year, 3.3-percent less than the previous year, according to government statistics.