Spain. Motorcycles Market lost 44% in May, but e-scooters jump at 15% of total

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Spanish Motorcycles Market lost 44% in May recovering from the -93% reported in the previous month, fully benefit from the end of shut down. Our annual outlook unchanged from the previous month and the 2020 is projected at 147.000 units (-27%) while in the 2021 the industry will almost recover the pre-covid19 level.

2020 Motorcycles Market Trend

Following a string of sixth consecutive annual increase, the 2020 was expected again as a very positive year for the Spanish motorcycles industry. The forecast were confirmed in the first two months, with year-to-date February sales at 29.187 units, up 11.8%.

Unfortunately the risk correlated to the development of Covid19 in the country has been underestimated by the government and first measures had been taken only in mid-March with the results that Spain is the second most hit country in Europe, after Great Britain, and the lockdown period was almost extended with near 8 weeks time.

All motorcycles plants (including components manufacturers) and dealerships were closed for near 50 days and in March sales have been only 9.195, down 45.9%, ending the Q1 at 38.432 units, down 10.8%. In April sales were 1.079 (-93.5%) while the re-opening allowed to recover in May, with 11.024 sales (-44.1%).

The post covi19 era could follow a new track, as May sales mix indicates, with electric vehicles jumped at 15.7% of total industry, with all e-scooter brands boosted and with the Spanish Silence in second place in absolute in the market with 1.364 sales, not far from the leader, Honda (1.783, -53%).

Market Outlook 2020-2025 unchanged in May

May data are in line with expectations and our outlook on the market is unchanged from the previous month

In the Beyond Covid19 project, we are revising on monthly basis and sharing with our Clients the 2020-2025 motorcycles market outlook and in case of Spain, we have not changed to apply after May data, which were in line with our forecast.

The full year 2020 sales in Spain are projected at 147.000 units, down 27% from the previous year.

The 2021 will allow the market to be back at pre-covid level, despite the effects of stage 5 emission level (due in January 2021), while consumer’s demand will change the mix within the market, accelerating trends in place before the virus and showing new trends.

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In 2019 motorcycles sales up, 6th year in a row. Electric segment up 46%.

According to data released by the Minister of Transportation, the 2019 will be remembered as really positive for the two-wheeler industry with sales increased 11.0% at 202.969, scoring the sixth consecutive increase in a string. Thanks to this performance Spain is now back as third market in Europe, overtaking Germany, behind France and Italy.

All segments are growing, with the Motorbikes up 37.5%, the Scooter/Tricycles over 50 cc up 49.0% and the Moped 50cc up 8.2%.

In the first nine months of the year, 11.020 sales have been for electric models, up 46.7%, with two brands, Silence and Askoll holding over 50% of sales.

Competitive Arena

Spanish market is almost concentrated with the Top 10 brands holding 74.5% of the total volume, while 178 brands have registered at least one units in the 2019.

As in the past, in 2019 the market leader was Honda with 35.965 sales (+13.0%) holding 17.8% of share. Honda is market leader uninterruptedly since years and just in the 2014 risked to be surpassed by Yamaha, while in recent years the gap over all the followers grew up again.

Indeed, the second best-selling brand actually there is Yamaha with 25.629 sales (+0.5%) and with 12.7% of share.

In third place Kymco with 18.420 sales (+9.1%) and 12.5% of market share.

In fourth place, Piaggio  selling 17.744 units (+8.7%) followed by the best premium brand, BMW with 12.967 sales (+19.5%), SYM with 10.065 (+3.2%), Kawasaki with 8.661 (+17.5%), Suzuki with 6.229 (+10.1%) and KTM with 6.143 (+5.4%). Behind just few brands have lost volume. Among them, Peugeot, down 13.9%, Harley-Davidson, down 7.5% Daelin 11.7%.

Market Heritage

At the end of 2019, the Spanish market ranked third in Europe, after France, and Italy. one place ahead of Germany and Turkey.

At Global level the market was only 25th, ahead of Guatemala , Turkey and Paraguay and behind Germany, Democratic Republic of Congo and Kenya.

Following the 2008-2009 fall, in the recent years the market entered in a positive mood. Indeed, after having peaked down in the 2014 with a record low volume of 135.082, the market has progressively recovered in the last five years, ending the 2019 with 202.000 registrations.

In these years the market changed, with the sharp decline of the 50 cc models demand, the growth of above 50cc scooters, tricycles and quadricycles and the growth of motorbike sector, fueled not only by the traditional Spanish love for this products but also by a strong recovering economy, with growing spending power for leisure goods. 

In terms of volumes and comparing final figures between the 2014 and the 2019, the scooter/moped 50cc segment grew up 14%, the 50cc + scooter/tricycles +18% and the motorbikes +69%, being the only segment with higher volumes in the 2018 compared with 2012.