New Auto Sales to Suffer Unprecedented Drop of 30% This Year.

(From Taiwan Economic News)

Taipei, Aug. 31, 2006 (CENS)--Due to the effects of twin-card debt turmoil and sluggish economy, Taiwan's new auto sales may plunge an unprecedented 30% to 350,000 vehicles, in sharp contrast to last year's 514,000, a 10-year high. As a result, auto-related industry may shed NT$150 billion of production value this year, one third of its original annual output of NT$450 billion. Over the past five years, the Taiwanese auto industry had seen its new auto sales climb from the nadir of 345,000 vehicles to 514,000 last year, only to see the amount fall back to the starting point within one year. On the basis of NT$600,000 per car, decreased …