Registration Report Analysis - 2026 February Taiwan Car Market
Market Overview:
As nine days of February fell within the Lunar New Year holiday period, and the month-end also coincided with the 228 Peace Memorial Day long weekend, coupled with the fact that February had the fewest available registration days of the year, total market registrations declined sharply by 37.2% compared with January, and fell 19.1% year-on-year, reaching 22,043 units. This month, all major brands recorded declines of varying degrees, with the sole exception of Suzuki, which grew by 34%. Among them, Lexus experienced the most severe decline at 58.2%, mainly because its core model lines—UX, NX, and RX—were undergoing model-year transitions, leading to reduced registrations. Of these, the UX saw the most pronounced drop, plunging by 97.1%. Cumulative registrations from January through the end of February totaled 57,116 units, representing a year-on-year decline of 8.7%. Regarding the full-year market outlook, the market leader Hotai Motor has recently projected that total sales could reach 440,000 units, implying nearly 6.2% growth compared with 2025. In our view, once the U.S. reciprocal tariff issue becomes clearer and domestic regulatory adjustments are completed, there should be room for a certain degree of price and market correction. For consumers who remained on the sidelines last year, the second half of this year is likely to be a favorable time to purchase, which could in turn help lift overall vehicle registrations and support the outlook for market growth compared with 2025.