SYM motorcycles is resilient to the 2020 crisis thanks to the positive trend in the domestic market and contained lost in Europe. Global sales year to date April fell down 13% while a recovery is expected in the rest of the year. It is not excluded to end the 2020 above the previous year, actually representing the all time record.
SYM Global Sales in 2020
SYM in the 2020 looks resilient to the crisis more than the most of competitors thanks to a lucky market mix.
Taiwan has been the best in the World in managing the Covid19 risks and few cases have been detected in the country not requiring any block to the standard economic activity within the country. The motorcycles industry kept the positive track and SYM reported sales increased 7% in the first four months of the year.
In Europe SYM sales declined by the aggressive commercial policy allowed to minimize the volume lost at 26.7% (YTD April) while in other region SYM is marginally directly active, preferring to act as supplier for local brands.
The expected fast recovery in Europe would help SYM to recover lost in the rest of the year and the 2020 could be aligned with 2019, which actually is the record year.
European double-digit growth boosted 2019 global sales at record
Following an almost negative period between 2012 and 2015, in the most recent year SYM global performance is increasing.
In the 2019 global sales have been for the first time over the 400.000 units, with a record of 406.812 registrations.
The growth is based on the export activity. Indeed, in Taiwan SYM sold 190.998 units, not the best ever, while in Europe a new record of 64.345 units was scored and in Latam sales improved 21%. Sales are growing in North Africa, where the brand is among leaders, in the CIS region and in East Europe.
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.