According to the China Economic News Service, Taiwans two largest bicycle manufacturers are posting record sales and profits this year. Last week BOSS reported that Taiwan exports were at an all time high in both units and value, with ASPs climbing due to higher-end production. Now Giant is expecting record annual revenues of NT$8.5 billion ($254.2 mm), and Merida is expecting annual revenues of NT$5 billion ($149.6 mm).
During the month of November Giant shipped nearly 83,000 “high level” bicycles, 5,000 more than last year. This activity brought in $29.8 million in revenues for the month. At the end of November, the 11 month year to date revenue for the company was $232.2 million, up 27.3% over last year.
Meridas revenues for the month of November were $15.9 million, up 18.6% over the same month last year. For the 11 month year-to-date period, the company posted $135.8 million in revenue, up 14.9% over last year. The CENS reported that Meridas production has been at full capacity for the entire fourth quarter, an it has been perfecting its magnesium alloy production, upgrading its defect free production ratio.
