Taiwan’s automobile market is smaller than those of India, Indonesia, Thailand, and Malaysia in Asia, but it is a stable market that has not fallen below 400,000 units per year since 2014.
The world’s leading semiconductor foundries such as TSMC and electronics contract manufacturing companies such as Hon Hai are headquartered in Taiwan, and the good performance of these companies has supported an increase in disposable income, including in peripheral industries, and the economy is stable.

In 2024, asset prices rose, supported by the steady industrial production of semiconductors and other products, high stock price indexes, and an increase in the housing price index, and although they fell below the previous year’s results, they settled at 458,000, the third highest level since 2005, the peak year.

The impact of rising asset prices can be clearly seen when looking at the best-selling segments: while most segments fell below the previous year’s level, sales of passenger cars in the luxury segment and SUVs rose 10.8% and 5.0%, respectively, compared to the previous year.
Also impressive is the fact that the compact segment of passenger cars in the B class and below has outperformed the luxury segment in the past, but in 2024 it was reversed by the luxury segment.

By brand, too, the top three in terms of market share, Toyota, Lexus, and Honda, decreased, while Mercedes-Benz (up 7.6%) and BMW (up 15.1%), in fourth and sixth place, respectively, increased their sales.
With the need for huge investment in response to SDVs and electrification, Taiwan is now a focus of attention as luxury cars are selling well.