KYMCO Targets to Produce Over 1 M. PTWs in 2011

Kwang Yang Motor Co., Ltd. (KYMCO), the largest powered two-wheeler (PTW) manufacturer in Taiwan, recently announced a goal to achieve annual revenue of NT$32 billion (US$1.07 billion) in 2011.

The firm also aims to maintain its lead in Taiwan's PTW market for the 12th straight year in 2011, with exports to grow 10% to 15% this year.

To maintain its market share in Taiwan, KYMCO launched the 125cc Jockey V2 scooter priced at NT$51,800 (US$1,726) in Taiwan; while KYMCO plans to launch a 700cc UTV (utility vehicle) in the United States this year.

Ko Chun-ping, KYMCO's executive vice president, pointed out that his company led the domestic PTW market for the 11th consecutive year in 2010 by selling some 193,000 PTWs, aiming to maintain its market share at over 38% this year. KYMCO forecasts that the overall new-PTW sales in Taiwan in 2011 should be around 580,000 to 600,000 units, compared to about 530,000 units in 2010, some of which will translate into domestic sales of about 228,000 units.

KYMCO bought all the stakes in KYMCO U.S. in late 2010 and began aggressive sales development in the big market. This year, the company plans to market UTVs, which are expected to replace all terrain vehicle (ATV) gradually, according to Ko.

KYMCO U.S. aims to sell over 1,000 UTVs this year, making such model a major profit-maker for KYMCO.

KYMCO produced 824,000 PTWs worldwide in 2010, generating revenue of NT$29.2 billion (US$973.3 million). In 2011, the firm aims to turn out 1.03 million vehicles and generate revenue of NT$31.9 billion (US$1.06), making it the fifth-largest PTW brand following Honda, Suzuki, Kawasaki, and Piaggio.