The Influence of Financial Crisis on Luxury Goods –An Example of Imported Luxury Cars in Taiwan

• Main Authors: Pi-YuHuang, 黃碧玉
• Other Authors: Hsin-Hong Kang
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/37597666946936001201

碩士 === 國立成功大學 === 高階管理碩士在職專班 === 98 === The global financial turmoil in 2008 seriously attacked the Taiwan’s vehicles industry and made the vehicles sales market an extremely difficult field to survive, especially for the imported luxury vehicles which then was facing an unprecedented and stringent recession. Thus, it became a very important and hot research issue as to how to build an accurate forecasting model of vehicle market demand for car industry in Taiwan. Multiple regression model has been employed as the primary research method in this study. Also, E-views software was applied to analyze the time series data of the related variables affecting the demand of imported vehicles, which were collected during the time period ranging from January 2000 to June 2009. The problems resulted from autocorrelation and homoscedasticity in the time series demand model were identified, tested, and modified step by step until the final model are obtained. Furthermore, dummy variables were introduced and set in the model in order to investigate the extent of influence of the global financial tsunami on the demand of the imported vehicles. Empirical findings showed that, though not significantly, the global financial tsunami has negative impact on the demand of imported luxury vehicles. Besides, variables which significantly influence the imported luxury vehicles market include: registration of domestically produced cars, transportation consumer price index, Taiwan stock price index, prime loan rate, unemployment rate, crude oil price, and population. Among these variables, international crude oil price is the most critical one significantly influencing the demand of imported vehicles. The entire explanatory power of the final version of the demand model reached 84% high.