For fiscal 2020, Taiwan’s largest bicycle manufacturer, Giant Group, reports total sales of New Taiwan Dollars 70.01 billion (€2.08bn-$2.45bn). This is an increase of 10.3 percent compared to the previous year. Rising global demand for both traditional and e-bikes also led to record profits. At TWD 4.95 billion (€147.29m-$173.43m), profit after tax was actually 46.7 percent higher than in the previous year.
Looking at its own brand portfolio (Cadex, Giant, Liv, Momentum), all Giant sales companies “contributed to the significant sales and profitability growth in the face of high demand worldwide.” The three main markets of China, Europe and the U.S. each posted double-digit year-over-year growth in local currency.
E-bikes are one of the leading sales generators. They have become one of Giant Group’s key growth drivers. In 2020, sales of e-bikes increased by 28 percent year-on-year. They accounted for 26 percent of Giant Group’s total sales last year.
With these figures behind it, Taiwan’s number one bike maker is also optimistic about the 2021 fiscal year. According to Giant Group, the pandemic has changed lifestyles. This led to a change in people’s awareness of health and fitness. In addition, to reduce the carbon footprint, there would be a continuous push by governments in various countries to encourage their citizens to use bicycles or e-bikes. Some of the government schemes that would be part of this would include, for example, targeted investments in bicycle-related infrastructure. In addition, the sale of bicycles and e-bikes would also be financially encouraged here and there. Giant concludes that it can be expected that “demand will continue to exceed supply.”
