Kymco Motorcycles global sales are penalized by the difficulties in the domestic market, where the manufacturer has lost share. Sales in the first 11 months 2020 declined at 422.000 (-5.2%). European operations are gaining fast.
McD tracks new vehicles registrations across the World (over 80 countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
Kymco Global Sales in 2020
While KYMCO is a global brand distributing in all markets world-wide, the weight of domestic Taiwanese sales is still huge, counting 67% of the total.
This year, while international staff is struggling to achieve the best performance in challenging economic environment in all countries, in Taiwan, were COVId19 did not hit the population, the domestic sales team has lost market share hit by outstanding SYM actions.
So result is in a global sales declining 5% after 11 months 2020, at 422.000 (-5.2%).
Analyzing data in detail, the first two quarters have impacted the full year with lost of 20.6% and 18.6% respectively, while in Q3 sales surged 17.1% and the Q4 is projected to grow up over 20%.
However, the full 2020 sales will be below the half million level.
New facilities in the Philippines
In a press briefing in Makati City on early April 2020, KYMCO Philippines president Allan Santiago announced the company decision to invest nearly 20 million US dollar in a new facility in the Philippines. The operations are supposed to start in the 2023, when the forecast indicates that the demand for a new type of two-wheeler models (mainly electric fueled) will be huge.
Indeed, the Philippines are among the fastest growing markets all over the World and new rules to limit pollution will dramatically transform the industry. The new Kymco plant will have a capacity of 6,000 units per month. It will replace the current facility, located at the Sta. Maria Industrial Estate in Bagumbayan, Taguig City which has a capacity of 5,000 units per month and “old” technologies.
KYMCO stands for Kwang Yang Motor Company, headquartered in Kaohsiung, Taiwan. It has about 3.000 employees and produce more than 600,000 vehicles per year.
The company has established several production facilities abroad. Those are located in Indonesia (Jakarta), Malaysia (Petaling Java), China (Shanghai, Chengdu and Changsha) and Philippines (Bagumbayan, Taguig City).
Founded in 1964, KYMCO originally started out with technology transfer from Honda, Japan. Thanks to the technical know-how from Honda, KYMCO became one of Honda’s high quality overseas manufacturing facilities.
Over the next two decades, Honda increased its business interest in Kymco, becoming one of its significant shareholder. However, their strong relationship ended in the 2000, when Kymco started to move on its own feet.
Kymco celebrated its 50-year anniversary in 2014 hitting the milestone of 10 million scooters, motorcycles, e-bikes, side-by-sides and ATVs sold in 100 countries, with an annual sales revenue exceeding (US)$ 1 billion.