Taipei, Nov. 14, 2012 (CENS)--With the coming fourth-quarter booming season, the two leading bike makers in Taiwan, namely Merida Bikes and Giant Global Group, both enjoyed booming revenues in October, with Giant’s combined revenues in October rising 11.11% year on year (YoY), and Merida’s surging 25.86% YoY.
Simmering sales in China enabled Giant to post combined revenues of NT$4.59 billion (US$153 million) in October, rising 11.11% YoY, with combined revenues of NT$45.304 billion (US$1.5101 billion) in the first 10 months, surging 14.52% YoY.
Giant Taiwan posted revenues of NT$1.932 billion (US$64.4 million), rising 2.49% YoY, with revenues in the first 10 months of NT$17.297 billion (US$576.56 million), increasing 14.46% from a year earlier.
Rising export average selling price (ASP) enabled Merida Taiwan to post NT$1.752 billion (US$58.4 million) in revenues, soaring 25.86% YoY, with revenues in the first 10 months of NT$12.468 billion (US$415.6 million), increasing 10.2% YoY. The coming peak season has Merida‘s production lines fully booked, and its third-quarter revenues and profits both hit new highs this year.
Institutional investor say sales of bikes in China reached 570,000 units last year, and will likely reach 800,000 this year, soaring almost 50% YoY.
To enlarge market share in China, Merida plans to invest US$100 million in the Nantong plant in Jiangsu province, regarded as the biggest-ever production base since Merida’s establishment. First-stage construction will start this December and the plant could come online next April, with initial capacity of 500,000 bikes.
(by Renee Chen)
