SYM. European double-digit growth support the 2019 projection at new record

SYM Fiddle II

SYM motorcycles boosted global sales during the first nine months of 2019 with a record of 372.000 units, up over 2% from the correspondent period last year. Sales are driven up by European operations, while they are steady in the domestic Taiwanese market.

 

Global Sales

SYM operates in a partnership with several firms providing key on hand vehicles, sold under the partner’s name (like for Peugeot Motorcycles). These vehicles are both assembled by SYM or sold in kit to be assembled in local plants (especially in South America) to avoid duties on imports.

For these reasons it is not easy to identify SYM’s global sales. Following the aim of our project, we tried to identify only the motorcycles/scooter sold under SYM brand.

After hard times (between 2012 and 2015), SYM has recovered, reaching in 2018 the new all time record with global sales close to 450.000 units. 

Despite its worldwide distribution, dependence on the Taiwanese domestic market is still strong, standing for the 59%. The second market is Vietnam, where it is one of the top players, despite sales declined by the half in the last sixth years, and the third is USA.

European market is quite relevant and SYM is one of the top player among scooter manufacturers. The largest market is The Netherlands, with 10.461 sales, followed by Spain, Italy and Greece.

In the first nine months of 2019 the SYM Global Sales Performance was almost positive with figures up to 372.000 units, up 2.5% and projecting the new all time record.

Sales are steady in Taiwan, while are growing in double digit in Western Europe.

SYM motorcycles

 

The heritage

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

SYM is the largest Taiwanese company to manufacture moped, scooter, motorcycles and ATVs. Moreover, it produces small light commercial vehicles and small cars, under Hyundai name in East Asia.

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

Today, the company annual sales revenue 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. It has direct subsidiaries in USA, China, Italy and Germany, while it is 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 where it distributes 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.

 

 

 

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