Taipei, May 24, 2012 (CENS)--Kenneth Yen, CEO of Yulon Group, the largest automobile manufacturing conglomerate in Taiwan, recently claimed at an intra-company meeting that his group will challenge global revenue goal of NT$350 billion (US$11.7 billion) in 2012.
After years of deployments, Yen said, Yulon's operations in China would enter into the harvest period, with both new-car sales volume and revenue there to outpace those in Taiwan. Yulon will celebrate its 60th anniversary in 2013.
Yen adjusted down its forecast for overall new-car sales in Taiwan to about 360,000 units this year from 400,000 units, after the government announced hikes on oil and electricity prices. However, he deemed that the domestic automobile market would not affect Yulon's goal of achieving annual revenues of NT$350 billion (US$11.7 billion) in 2012, a 25% increase over 2011.
Industry sources said that Yen has been aggressively trying to lead his group toward a regionalized and internationalized business over the past 10 years, and this year the revenue from China is expected to outstrip that in Taiwan.
Yulon began pushing its self-developed, own-brand LUXGEN car products in China from the third quarter of 2011. Its Chinese subsidiary, Dongfeng Yulon Motor Corp., a joint venture between Yulon and Dongfeng to locally produce and sell the LUXGEN-branded car models developed by Yulon, has turned profitable in the first quarter of 2012. In addition, Yulon is scheduled to push LUXGEN models in Russia this year.
(by Ken Liu)