Taiwanese market does not succeed in getting back to its pre-crisis (2008) level
- Taiwan benefits from a dynamic market economy, with a high GDP per capita (15 000 Euros in 2012 according to the UN, which positions the country at the 20th position – 20 000 Euros in 2012 according to IMF, which positions the country at the 30th position).
- Structurally linked to the development of the global economy (exports accounting for two-thirds of GDP), the island has suffered from the economic slowdown of its trading partner countries, including the Euro area. Taiwanese companies are mainly small-and medium-sized (conversely to Japanese and South-Korean companies).
- Taiwanese economy had quickly started to recover from the global 2008-2009 financial crisis, benefiting in particular from the rise of China, its first partner. But purchasing power of households declined in 2012/2013, prompting the automotive market to decrease again.
- Automotive market has fallen between 2005 and 2008, from 450,000 vehicles per year to 180,000, then increased between 2009 and 2011 to reach 290,000 vehicles per year, and again displayed a decline in 2012 and 2013, down to 250 000 vehicles per year.
- Considering carmakers, Toyota dominates the Taiwanese market (45% share), far ahead of Nissan, Mitsubishi and Honda. This is often the case in Southeast Asia countries.
Data source: File #55 - Registrations in the World by makes
Contact us: info@inovev.com