Automobile and motorcycle manufacturer Sanyang Industry Co (三陽工業) yesterday said it aims to capture 25 percent of the domestic motorcycle market this year, targeting annual sales of 200,000 motorcycles.
Sanyang, Taiwan’s third-largest motorcycle maker, commanded a 19.3 percent share of the local passenger vehicle market last year, company chairman Chang Hung-chia (張宏嘉) told a news conference in Taipei.
The company said it is generally upbeat about its sales outlook, even though total new motorcycle sales in Taiwan this year are forecast to decline by nearly 6 percent to 800,000.
The figure — which is still much higher than 2015’s 709,059 units — is less than last year’s 852,418 units, as a five-year government subsidy program might not be as effective as last year, Sanyang said.
The government offers a subsidy of NT$4,000 (US$130) for people who scrap or export a used motorcycle and then buy a new bike within six months.
Discussing the company’s plans for this year, Chang said Sanyang also aims to develop its businesses in China and Vietnam, where it has seen rapid sales growth.
The company’s subsidiary in Xiamen sold nearly 110,000 units last year, its best performance in the past four years, on the back of robust demand for motorcycles in the Chinese city.
The company said that growth momentum is likely to be sustained and it expects revenue from Chinese customers this year to grow an annual 10 percent.
Sanyang, which assembles and distributes cars for South Korea’s Hyundai Motor Co, also gave a positive outlook for its car business.
Hyundai is planning to launch the Ioniq electric mid-size hatchback and the Genesis luxury sedan and has targeted sales of 15,000 cars.
It plans to upgrade its showrooms and improve its marketing strategies to attract a wider customer demographic, Sanyang said, but did not provide a forecast for capital expenditure this year.
Sanyang sold 164,697 units last year, a 47.8 percent year-on-year increase from the 111,419 units sold in 2015. The figure translates into cumulative revenue of NT$33.5 billion for last year, an increase of 6.62 percent from the previous year.
The company, which sells motorcycles and scooters under the SYM brand, attributed the significant increase in sales to the launch of several motorcycle models.
Those lower-priced models, including New Woo 100 and the Mio 115, caught the attention of younger customers last year, Sanyang said.
Sanyang shares gained 0.24 percent to close at NT$21.05 in Taipei trading yesterday.
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