Automotive off-season still hot as Yulon Nissan beats March forecast
Taiwan News, Staff Writer
2014-04-09 12:24 PM
On Tuesday, Yulon Nissan (2227) announced March revenue of NT$3.03 billion, a year-on-year increase of 22.79% and monthly growth of 82.98%, beating market expectations. March is normally the off-season for the automotive industry yet the sector showed strong performance this year. Yulon Nissan’s revenue for Q1 was NT$8.17 billion or 7.69% growth year-on-year.

At the same time, the 2014 Taipei International Auto Parts & Accessories Show opened Wednesday in a joint exhibition with “AutoTronics Taipei,” “Taiwan International Motorcycle Show,” and “ Taiwan International Electric Vehicle Show.” With the recovery of the global automotive industry and driven by the exhibition, subsequent performance of automotive concept stocks can be expected.

Held April 9 to 12, the Taipei International Auto Parts & Accessories Show is expected to attract 1,346 exhibitors in 3,665 booths, an estimated 7,000 foreign buyers, and 50,000 domestic buyers.

During the four day exhibition, hybrid cars, electric motorcycles, batteries, battery powered electric vehicles, and related components will be displayed. With the recovery of the global automotive industry, organizers estimate from past experience that this year’s four exhibits could bring NT$40 billion in business opportunities to relevant domestic industries.

Hwashin Security Investment Consultant Co., Ltd. vice-president Lee Yong-nian stated that electric vehicle themed shares are represented by BizLink Holding Inc. (3665), Mobiletron Electronics Co., Ltd. (1533), and Hota Industrial Mfg. Co., Ltd. (1536). On the technical side, Mobiletron and Hota movements have remained above their respective moving averages. Automotive components stocks include E-Lead Electronic Co., Ltd. (2497), TYC Brother Industrial Co., Ltd. (1522), and Hu Lane Associate Inc. (6279). From a technical standpoint, automotive component concept stocks face a market pullback after impressive gains. If volume increases and price and volume remain stable moving forward, another wave of gains is likely.

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