NOT SIMULATING:Hotai forecast new auto sales in the nation would fall this year, as the effects of the government’s commodity tax cut stimulus program diminish
Date: Apr 13, 2017
By: Kuo Chia-erh / Staff reporter
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus vehicles in Taiwan, yesterday launched the Toyota Prius PHV, a mid-sized plug-in hybrid priced at NT$1.6 million (US$52,363).
The launch is seen as part of Hotai’s efforts to diversify its product mix and capture the dominant share in the local market for eco-friendly autos, after electric car maker Tesla Motors Inc expanded its footprint in Taiwan last year.
Revenue from hybrid vehicles is expected to contribute more than 10 percent of Hotai’s total sales this year, company president Justin Su (蘇純興) said at a launch event in Taipei.
As for the company’s next step, Hotai is to introduce the Lexus LC luxury sports coupe in the second quarter and the Lexus LS in the fourth quarter, it said. [FULL STORY]