Taiwan vehicle sales flat in January

Market Performance - Taiwan's new vehicle market remained stable at 35,073 units in January 2026, slightly up from 35,064 units in January 2025, despite having more working days this January due to the Lunar New Year holidays [1] - Compared to December 2025, when vehicle sales increased by 14% to 47,303 units, January's sales saw a significant decline of almost 26% [1] Vehicle Sales Breakdown - Sales of imported vehicles fell by 12% year-on-year to 14,561 units in January, attributed to shipment delays after a surge in deliveries at the end of the previous year [3] - In contrast, sales of domestically produced vehicles rose by 11% to 20,512 units, driven by popular models like the Honda HRV [3] - Sales of battery electric vehicles (BEVs) dropped sharply by 50% to 1,107 units, primarily due to the absence of Tesla deliveries, with Toyota's bZ4X leading the segment [3] Brand Performance - Toyota, the market leader, reported a 9% decline in sales to 11,614 units, while its luxury division Lexus saw a 12% drop to 3,173 units [4] - Honda experienced a significant increase of 90% in sales to 2,583 units, while Ford's sales surged by 115% to 1,761 units [4] - Other brands like Hyundai and CMC also saw positive growth, with Hyundai up by 33% to 1,645 units and CMC up by 6% to 2,216 units, whereas Mercedes-Benz faced a 49% decline [4] Market Forecast - GlobalData projects that the Taiwanese light vehicle market will grow by nearly 10% to 429,000 units in 2026, following a 10% decline to 390,000 units in 2025, driven by ongoing government incentives [5] - The market is expected to grow more moderately in 2027, with a forecasted increase of 3.1% to 443,000 units [5]