Severe weather results in record Tong Yang sales

By Camaron Kao  /  Staff reporter

Thu, Apr 11, 2013 - Page 13

Tong Yang Industry Co (東陽實業), which supplies automotive metal sheets and bumpers to global brands, yesterday said severe weather conditions in the US and Europe boosted its sales to a record NT$1.78 billion (US$59.4 million) last month.

Last month’s figure was 18.37 percent higher than the NT$1.5 billion recorded a year ago. In the first three months, the company’s consolidated revenue totaled NT$4.62 billion, up 12.56 percent from NT$4.1 billion a year ago.

The revenue was also the company’s highest ever in the first quarter of a year.

“The demand for after-sales car parts rose as the US and Europe experienced heavy snow last quarter,” Simon Chen (陳祖雄), president of Tong Yang’s after-sales business group, said yesterday at a press conference.

Tong Yang’s sales of after-sales car parts in the US increased 13 percent year-on-year last quarter, and sales of after-sales car parts in Europe increased 26 percent year-on-year.

The company also has high hopes for the Chinese market, expecting that after-sales revenue will expand by up to 70 percent this year.

Tong Yang public relations section director Fancy Hsu (許芳華) said the company’s original equipment manufacturing business would expand along with the expanding car market in China.

The car market in China is expected to grow 7 percent this year, she said.

Separately, auto-electronic parts maker Cub Elecparts Inc (為升電裝) expects rising sales of tire pressure monitors this year and next year, as new cars sold in the US and Europe will soon be required to be equipped with tire pressure monitors under new regulations, company chairman S.C. Yu (尤皓正) said.

Sales of the product would increase the company’s earnings per share from NT$4 last year to between NT$6 and NT$8 this year, Yu said.