A double-digit growth, surpassing 10 percent, is predicted in Taiwan’s bicycle sales this year, said Yang Ying-ming, Chairman of Taiwan Bicycle Exporters' Association Saturday as the Taipei International Cycle Show concluded, according to local media report Sunday.
The predicted 10 percent of growth will be the result of worldwide awareness to reduce global warming and the economic recovery in the United States and Europe.
Yang dismissed the assumption that bicycles are no longer as popular as they were last year in Taiwan, although bicycle sales dropped 20 percent to 30 percent in 2009, the report said.
As one of the major cycle show in the world, the four-day show attracted a total of 894 local and foreign companies from 36 countries, showing an increase of 17.3 percent from last year.
The major buyers came from Japan, followed by China, which took part in the event for the first time, South Korea, the U.S. and Germany, said the report.
One clear difference on target markets can be seen between Taiwanese bicycle firms and their Chinese counterparts, with the former focus on Europe markets and the latter on the U.S.
Discrepancy also seen in the average price of bikes, as Chinese bikes is US$46, while that of Taiwanese machines surpasses US$290, according to Yang.
China produces more than 70 million bikes every year, 40 million of which are to meet domestic needs.
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