Taiwan Autos Q1 2019
We believe that Taiwan's investment inflows and consumer market will face increased challenges as the country'seconomy comes under increased pressures from the worsening US-China trade relations which will reduce the demand for newvehicles. The weakening trend in private consumption growth is likely to remain intact as Taiwanese businesses are negatively hit byrising protectionism in the region, resulting in job cuts and small increases in wages which will have an especially negative onpassenger vehicles. There will be some degree of support for commercial vehicle sales from the government’s continuedcommitment to its Forward-Looking Infrastructure Development Programme. Due to the continued threat that the US-China tradedispute will have on Taiwan's economy, we have taken the steps to revise down our growth forecast for Taiwan's vehicle sales in2019 to a 7.6% contraction, down from our 4.0% growth forecast previously.
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