Guatemala. In 2019 Bajaj Auto in the throne overtaking Italika

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Guatemala Motorcycles Market in the 2019 hit the milestone of 200.000 annual sales keeping a place among the World’s Top 25 motorcycles market, following a series of 5 consecutive annual records. A new leader is on top of the list and after Honda, leader in 2017, and Italika, leader in 2018, the throne is now in the hands of the indian Bajaj Auto.

Market Trend

Guatemalan motorcycles industry is one of the largest in the Latin America and is in a positive track since years.

According to data released by the Minister of Transportation & Infrastructures, the domestic sales doubled in recent years from near 70.000 units sold in the 2012 to an all time record, the fifth in a row, hit in the 2019 with 204.507 sales.

Several are the reasons behind the continue expansion of this market. Probably the most relevant is the increase of pro capita income, grew up US$ 4.460 in the 2019 (from US 3.463 in the 2013) fueling demand for individual mobility, easily satisfied by the two-wheeler industry. Others factors are a favorable fiscal policy and the still low development of road infrastructures.

In addition, in recent years the number of motorcycles offered in the market grew up considerably. Until 5-6 years ago the offer was predominantly split between Japanese brands (Honda, Suzuki, Yamaha, Kawasaki) and some local makers, frequently utilizing Chinese technology to produce CKD models. A first “revolution” as represented by the arrival of the Mexican Italika, which was offering a wide range of motorcycles, reliable, sustained by a solid image and offered with a price competitive towards Japanese models. Italika boomed in the market achieving the first place in few years.

However, the arrival on Indian players changed again the competitive landscape. Hero, TVS and – overall – Bajaj Auto, the last to land in Guatemala but the most aggressive, introduced new models very competitive in terms of price, rapidly gaining market share.

The competitive arena is fluid with three different market leader in the last three years: Honda in 2017, Italika in 2018 and Bajaj Auto in 2019.

In the 2019 Guatemala was the sixth larger market in Latin America after Brazil, Mexico, Argentina, Colombia, and Peru.

In the Global scenario, Guatemala is within the Top 25 markets ending the 2019 in 24th place.

 

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