The Giant Group posted its most positive month in December since a small increase August 2024 but the overall 2024 business is still failing to build back against the significant declines in 2023.
The Taiwan-based bike manufacturer saw its 2024 full-year shipment volume fall 7.4 percent for the 12-month period to NT$71.3 billion, compared to NT$76.9 billion in 2023.
The company closed the year with a more moderate decline in December, with sales down 1.4 percent to NT$4.1 billion, but the fourth quarter overall was a big hit for the business, declining 8.6 percent to NT$13.6 billion for the three-month period. The quarter was impacted significantly by a 16.1 percent year-over-year decrease in sales for the month.
Making matters worse is the fact that Giant’s fourth quarter sales decline comes on top of a 29.8 percent decline in the 2023 fourth quarter and the full-year decline comes on top of a 16.4 percent decline for the 2023 full year.
For the balance of the year, sales were down 20.3 percent in the first quarter, down 5.6 percent in Q2, and up 4.7 percent in Q3 after a very strong July.
The Giant Group reports financials in the New Taiwan Dollar (NT$).
Image courtesy Giant Group
