Taiwan sales fall 3% in April [Yahoo! Finance]
Toyota Motor Corporation (TM)
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Source: Yahoo! Finance
After a strong start to the year, the market saw declines in each of the last three months resulting in a slight fall in cumulative four month sales to 149,437 units from 149,999 in the same period of last year. The vehicle market this year has come up against strong year earlier volume while imports from Europe have also been affected by geo-political tensions in the Red Sea. The Taiwanese economy remained strong with GDP growth accelerating to 6.5% year on year in the first quarter of 2024 after growing by 4.9% in the fourth quarter of 2023, driven by surging exports and still strong domestic consumption. The central bank increased its benchmark interest rate to 2.0% in March from 1.75% to combat rising inflation. Sales of imported vehicles were down 1% at 68,762 units in the first four months of 2024 while domestic sales were slightly higher at 80,675 units. Sales of battery electric vehicles (BEV) amounted to 7,325 units, led by domestic brand Luxgen, Tesla and BMW. Total s
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