SYM. First half 2019 reported at the highest level ever thanks to European operations boom

SYM Fiddle II

SYM motorcycles boosted global sales during the first half 2019 with a record of 215.000 units, up over 10% from the correspondent period last year. Sales are driven up by European operations as well as domestic Taiwanese market, while the second largest market, Vietnam kept losing sales and market share.

 

Global Sales

SYM operates in partnership with several firms proving key on hand vehicles, sold under the partner name (like for Peugeot Motorcycles) or (more frequently) under the partner’s name.  These vehicles are both produced by SYM or provided in kit to be assembled in local plants (specially in south America) to avoid duties on imports. For these reasons is not easy to identify the global SYM sales. For the scope of our project, we tried to identify only the motorcycles/scooter sold under the SYM brand.

In recent years SYM has recovered after a difficult period (between 2012 and 2015) and in the 2018 hit the new all time record with global sales not far from the 400.000 units. 

Despite sales distribution is wide in the World, the dependency by the domestic Taiwanese market is still huge, counting 59% of the total. The second market was Vietnam, where it is one of the top players, despite sales declined by the half in the last sixth years, and the third was USA.

European market is quite relevant and SYM is a top player in this region among the scooter manufacturers. The largest market was The Netherlands, with 10.461 sales, followed by Spain, Italy and Greece.

In the first half 2019 the performance was very positive with 214.475 sales in the World, up a significant 10.9%. While Vietnam is losing a further 12%, domestic market sales are growing 16% and Europe in total is up 16.7%. Full Year sales are projected at 430.000 units, the new record.

SYM motorcycles

 

The heritage

SYM is the brand developed by Sanyang Motor, a Taipei based motorcycles company, established in the 1954 in Hsinchu (Taiwan).

SYM is the largest Taiwanese company to manufacture moped, scooter, motorcycles and ATVs, while it is also producing small light commercial vehicles and small cars, distributed under the Hyundai name is East Asia.

In 1962, SYM formed a joint venture with Honda to begin local assembly of motorcycles, the first motorcycle manufacturer in Taiwan. Since now SYM has produced over 17 million motorcycles/scooters/ATVs.

Today, the annual sales revenue of the company exceeds 1 Billion US dollars and it produces more than 1 million units of motorcycles, under the leadership of Mr. W.H:C Chang the Chairman appointed in the 2014.

SYM actually occupies 2.400 workers in the home-base and overseas locations. They have direct subsidiaries in USA, China, Italy and Germany, while are producing in Taiwan, China (in Zhong Xing) and Vietnam.

 

Distribution

SYM is distributing in all continents, with distributors actually active in:

Canada, USA, Costa Rica, Panama, Dominican Republic, Bermuda, Cuba, Mexico, Argentina, Peru, Brazil, Colombia, Algeria, Morocco, Egypt, Angola, Ghana, Democratic Republic of Congo, Madagascar, Guinea, Kenya, South Africa, Australia, New Zealand, New Caledonia, Vanuatu, Brunei, Indonesia, Malaysia, Vietnam, Philippines, Singapore, Laos, Myanmar, Nepal, Hong Kong, China, Japan, South Korea, Bahrain, Qatar, Oman, Saudi Arabia, UAE, Lebanon, Palestine, Israel.

SYM is quite strong in Europe were distributed in: Austria, Belgium, Croatia, Estonia, Macedonia, Finland, Denmark, Cyprus, Malta, France, Germany, Italy, Spain, Latvia, Netherlands, Lithuania, Poland, Portugal, Albania, Hungary, Bulgaria, Romania, Montenegro, Russia, Slovenia, Sweden, Slovakia, Czech republic, Switzerland, Ukraine, Turkey, United Kingdom.

 

 

 

Share:

Leave a Reply

Your email address will not be published. Required fields are marked *