From Yahoo Finance: 2025-06-04 10:12:00

Taiwan’s new vehicle market plummeted by 23% in May 2025, with only 31,910 units sold compared to 41,487 units in the same month last year. Overall vehicle demand in the country has weakened despite a pick-up in economic activity, with GDP growth exceeding expectations at 5.4% in the first quarter.

In the first five months of 2025, Taiwan’s vehicle market saw a nearly 14% decline to 164,647 units from 190,924 units in the same period last year. Sales of domestically-produced vehicles dropped by 17% to 84,123 units, while import sales declined by 10% to 80,524 units. Battery electric vehicles (BEVs) accounted for 9,908 units, with Tesla leading the pack.

Individual brand performances in Taiwan varied greatly year-to-date, with market leader Toyota experiencing a 3% increase to 51,417 units. Other notable changes include Honda down 30% to 7,921 units, Hyundai down 29% to 7,497 units, and Mercedes-Benz down 4% to 11,142 units. The market continues to show fluctuations in brand sales.

Last year, Taiwan reintroduced minimum local content requirements for locally-assembled vehicles, aiming to ensure minimum safety standards and protect the country’s component sector. Under the new rules, locally-assembled vehicles must have a minimum local content of 15% in the first year, rising to 25% in the second year and 35% in the third year.

Read more: Taiwan vehicle sales plunge 23% in May