SYM Motorcycles Global Sales penalized by domestic market. After nine months of the year Global registrations have been 436.715, down 8.1%, with domestic sales down 12.5% and international sales down 5%. Italy shines.
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.
Global Registrations Data in 2021
During the pandemic first waves, Taiwan was the best in the World to take the virus under control and when the local economy started to suffer for sharp export declining, government sustained the consumer demand, helping the domestic producers In the two-wheeler industry this policy helped the local giants, SYM and Kymco which have been resilient to the crisis.
Indeed, SYM was able to slam the all-time record sales in the 2020, thanks to roaring performance scored in Taiwan (+51.4%).
In the 2021, the double-digit lost in the domestic market, due to lower demand, is penalizing SYM global performance. However, sales after nine months of the year have been 436.715, down 8.1%, with domestic sales down 12.5% and international sales down 5%.
This year sales are declining in China, ASEAN and East Europe – with Turkey down a deep 60.3% – .
Sales in West Europe are down a mere 2.7% thanks to the outstanding performance reported in Italy (+27.5%) which balance lost in other countries, like Netherlands (-27%), Germany (-9.4%), Belgium (-26.3%), Switzerland (-13.8%), Portugal (-19.9%), Austria (-8.4%), Slovenia (-12.4%).
Boosting sales 24%, in 2020 SYM hit the New All Time Sales Record
In the 2020 SYM motorcycles has been more then resilient to the crisis and thanks to the momentum gained both in Taiwan and Europe, the Taiwanese firm achieved the new all time record, with a a sharp increase over the previous year.
The Taiwanese government has been among 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 27.8% in the first eleven months of the year.
In Europe SYM sales declined during the first half. However, the aggressive commercial policy pursued in South Europe, allowed to minimize the volume lost and to speed up the recovery, ending the annual sales at 69.753, up 7.7%.
Although sales are declining in double digit in the ASEAN, Latam and North America, global sales hit for the first time the 0.4 million units at the end of November ending the year not far from the half million milestone, with 494.000 sales (+24.6%).
SYM is the brand developed by Samyang 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.