TAIPEI (Taiwan News) — Hotai Motor said Wednesday that Taiwan’s new car market is expected to reach about 430,000 units this year, revising its earlier forecast of 440,000 units.
Hotai Motor CEO Su Chun-hsing (蘇純興) said the downward revision reflects short-term pressures, per CNA. He said the company expects a recovery in the second half of the year and has kept its overall sales targets.
Su explained that supply shortages of hybrid and electric models continue to limit deliveries, with strong demand for Toyota’s Rav4 and other hybrid vehicles outpacing supply. The company is in talks with Toyota Japan to secure additional allocations, while luxury models are also seeing stable demand.
He said uncertainty over US-made vehicle tariffs has also led some consumers to delay purchases, as buyers wait for clearer policy direction. Despite this, Hotai said it expects Q3 sales to improve compared with the same period last year.
Hotai Motor added that hybrid and electric vehicles now account for nearly half of sales under its Toyota and Lexus brands, reflecting continued electrification of the market. The company also said it aims to expand market share this year.
The comments came as Hotai launched Toyota’s new Hilux pickup in Taiwan, with an annual sales target of 1,500 units. The model has received about 400 pre-orders since May, according to the company.
