Entering Peak Sales Season, Hotai Motor Reports 48% Year-on-Year Revenue Growth in June, Second-Highest Monthly Record

Hotai Motor announced its unaudited consolidated revenue for June 2024 at NT$28.989 billion (approximately USD 966 million), representing a 4.2% increase from the previous month and a 48.3% year-on-year surge. This marks the second-highest monthly revenue in company history, trailing only April's NT$30.16 billion. Meanwhile, Yulon Nissan reported June revenue of NT$1.237 billion, up 13.6% month-on-month but down 1.91% year-on-year.

Hotai Motor's cumulative consolidated revenue for the first half of 2024 reached NT$157.585 billion, a 13.06% year-on-year increase and a record high for the same period. In contrast, Yulon Nissan's first-half revenue totaled NT$6.716 billion, down 18.32% from the same period last year.

Hotai Motor explained that June marked the beginning of the peak automotive sales season. The market response to the newly introduced plug-in hybrid electric vehicle (PHEV) version of the TOYOTA RAV4 has been positive. The COROLLA CROSS series maintained stable sales, while the LEXUS lineup benefited from strong performance of its core models, contributing to continuous revenue growth. Revenue from Japanese dealers contributed approximately NT$3.78 billion, accounting for about 13% of the group's total revenue.

Looking ahead to the second half of 2024, Hotai Motor previously stated that due to uncertainties in tariff policies and supply shortages of certain models during the first half, the projected new vehicle sales volume in Taiwan has been slightly revised downward from the initial estimate of 440,000 units to 430,000 units. However, market conditions in the second half are expected to improve. The company's overall sales targets remain unchanged, with hybrid vehicle demand remaining strong and luxury model sales performing well. The company aims to further increase its overall market share, with third-quarter sales potentially exceeding those of the same period in 2025.

Yulon Nissan noted that the 13.6% month-on-month revenue growth in June was primarily driven by increased sales and delivery momentum. However, due to the high base effect from the same period last year, revenue declined slightly by 1.91% year-on-year. Overall first-half revenue was affected by intensified market competition and weakened sales momentum during the transition period between old and new product models.

For the second half of the year, Yulon Nissan announced that the all-new X-TRAIL series will officially launch in July, followed by the facelifted X-TRAIL e-POWER and the all-new QASHQAI model. The company will continue to enhance market competitiveness through product portfolio optimization, brand management, and channel improvements, expecting the benefits of new products to gradually materialize and boost sales momentum in the second half.

Yulon Group recently reported unaudited June revenue of NT$5.92 billion, up 3.5% month-on-month but down 8% year-on-year. Cumulative revenue for the first half reached NT$34.514 billion, down 3.6% year-on-year. The group stated it continues to advance mass production of new vehicle models and expand into international markets. The Yulon City mall aims to exceed NT$5.9 billion in annual revenue for 2024, with integrated resources and strengthened operations in distribution services and overseas businesses.