TAIPEI, Taiwan, February 11, 2015 - Honda Taiwan Co., Ltd., Honda's motorcycle sales subsidiary in Taiwan, formally announced its decision to re-enter the motorcycle market in Taiwan, into the continuously growing market for large-sized motorcycles in spring of 2015.
Honda began local production and sales in Taiwan of small-sized motorcycles in 1961, mainly 125cc-class models, in the form of a technology licensing agreement with a local company (under a technical collaboration agreement). Honda's motorcycle business in Taiwan continued until 2003 when the partnership was dissolved.
In the meantime, the large-sized motorcycle market in Taiwan was first liberalized after Taiwan became a member of the World Trade Organization (WTO) in 2002, and the recent rise in income levels and the lifting of a ban on riding large-sized motorcycles on freeways have contributed to the rapid expansion of the market. Industrywide sales of motorcycles with an engine larger than 250cc reached approximately 17,000 units in 2014, up by 24% from 2013.
In such changing environment, Honda made a decision to enter the large-sized motorcycle market to be able to respond to demands of its approximately 7,000 existing customers, and to meet the expectations of its new customers. To provide completely satisfactory services to all its customers, Honda will establish exclusive large-sized motorcycle dealers, and will conduct sales of new models equipped with the latest technologies and accessories, as well as providing high-quality maintenance services. Honda will also conduct safe riding education and training to fulfill the diverse needs of its customers.
Honda is currently developing models that meet customers’ expectations and details will be announced after April. Honda plans to further expand the product lineup in the future.
After making its official entry in April, Honda plans to open four dealership locations – two in the northern region, one in the central region and one in the southern region.
＜About Honda Taiwan Co., Ltd.＞
|Representative:||Akira Makino, president|
|Capital investment:||3.6 billion New Taiwanese Dollars|
|Capitalization ratio:||100% Honda Motor Co., Ltd.|
|Business:||Sales of Automobiles and automobile parts|