Ecuador Motorcycles Market reported positive figures in August with 15.664 units sold (+21.1%). However, the loosening of restrictions to support the economy led to an upsurge in infections. The outcome YTD August is negative with 95.642 registrations (-17%).
August two-wheelers sales figures
New two-wheeler registrations reached 15.664 units in August. The market trend (+21.1%) decelerates compared to previous month sales, while YTD August result – down 17% – is up to 95.642 units.
By grouping sales into categories, both Scooter and Motorcycle are falling in double-digit during the eight months of 2020.
Looking into different CC-Class, all classes above 50cc are poorly performing, while 2-50cc class is actually growing (+35.5%). In addition, the Electric L1 segment is significantly growing YTD.
Brand-wise, Shineray is leading the market with 14.210 units YTD (-28.7%) ahead of Ranger with 8.347 units (-2.1%) and Daytona – ranking third – with 7.301 units (-17.7%). Suzuki with 6.717 (-30.1%) followed by Bajaj with 5.763 (-27.5%) and Yamaha with 5.177 (+8.3%).
Ecuador two-wheeler market in the 2020
Following the three consecutive records posted in recent years, the 2020 started with declining figures in Ecuador. By the second half of March, Covid19 outbreak led to country’s lockdown and the two-wheeler market fell in double-digit (-45.7%). During the first quarter, new motorcycles sales have been 33.173 (-12.5%).
Immediately after lockdown measures were implemented – blocking all activities and sales – the market reached its lowest peak, with April sales at 1.406 (-91.1%).
In May the Government loosed up restrictions progressively and sales slowly increased to 8.753 units (-46%).
In June Ecuador motorcycles market grew in double-digit with new registrations at 17.994 (+20.5%). The first half of 2020 closed at -29.8% with 60.634 units sold.
In July the trend remained positive (+29.9%) and recorded sales were 19.344, but the country was still fighting to contain the number of infections. Indeed, after Ecuadorean government started to loose up restrictions and reopen economic activities, a critical surge in Covid19 cases was reported.
Market Outlook 2020-2025 improved 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.
The country has been deeply hit by Covid19 pandemic since mid of March and it still struggling to contain new infections.
The full year 2020 outlook remains negative (-7%) with 157.000 units.
In the 2019 motorcycles market at the third record in a row
Following the sharp fall reported in the period 2012-2016, when sales declined near the half from 100.277 in the 2012 to 52.750 in the 2016, the market is fast growing.
Indeed, according to the data released by the Ecuadorian Minister of Transportation, in only one year, the 2017, the market recovered all sales lost in the previous five, surging at 127.000; the boom continued in the 2018 when the market grew up 31%, one of the best performance worldwide.
In the first part of 2019 the economic crisis hit the demand and the market was losing. However, a fast growth in the last months allowed the full year to end at 174.895, up 4.3%, hitting the third all time record in a row and advancing in the 28th place in the Global ranking (not final).
Differently from any other market in Latin America, Ecuador motorcycles market is dominated by a Chinese brand and Honda ranks only in 11th place, probably the worst position in the World.
The leader is Shineray which confirmed the place in the 2019 with a record of 29.430 sales (+9.0%) equivalent at 16% of market share.
In second place with a wide gap from the top there is Suzuki with 14.835 sales (+4.9%) with 8.5% of market share and in third the local brand Daytona, a manufacturer offering a wide range of two-wheelers, with 13.646 units (+12.5%).
Aprilia was one of the fastest growing brand in the 2019, with sales up 175%.
Actually there are 112 brands active in the market.