TAIPEI (Taiwan News) — Taiwan’s car sales were the highest in 18 years for the period from January to August, despite a dip last month due to traditional customs, reports said Friday (Sept. 1).

During the first eight months of 2023, 312,637 new vehicles were registered, a rise of 13% from the same period last year, and the highest number since 2005, Liberty Times reported. The number included 149,999 imported vehicles, or 48% of the total, for a rise of 26.6% from the previous year.

For August, car sales rose 2.9% to 35,421 from Aug. 2022, but declined 16.4% from July. Distributors pointed out that according to local tradition, consumers were reluctant to make major purchases, including cars, during Ghost Month, which started in mid-August.

As usual in recent years, Toyota occupied the largest market share. During the Jan.-Aug. period, 33.6% of new registered vehicles were Toyotas or its luxury brand Lexus. China Motors Corporation (CMC), the arm of the Yulon Group which assembles and distributes Mitsubishi and MG vehicles in Taiwan, came a distant second at 10%.

Looking at August, the three bestselling models were all Toyotas, with the Corolla Cross SUV leading with 3,079 cars sold, followed by the RAV4 SUV imported from Japan, and by the Corolla Altis. A surprise came in the shape of the HS from Chinese-owned MG, which finished in fourth place behind the Toyota models, per Liberty Times.

The car sector was pinning its hope for September on the launch of several smaller SUV models, even though the final half of the Ghost Month and global economic uncertainty might affect sales.