Chinese Motorcycles Market is back the largest in the World. The positive trend was in place even in the Q4 and following the October +12.0%, In November domestic market surged 5.4% with 1.6 million sales. After the first 11 months of the year, sales have been 15.7 million, up 0.4%.
he recovery remains firmly in place, with October indicators signaling still-robust economic dynamics. On 29 October, China’s top leadership finalized the blueprint of the 14th Five-Year Plan (2021—2025) and unveiled its “Vision 2035” program, which intends to catapult China to “moderately developed economy” status in 15 years.
The agenda includes boosting total factor productivity, rebalancing economic development and reducing the economy’s dependence on external markets and technology. Although it is ambitious, China’s solid track record of meeting economic and social targets makes this initiative plausible.
Economic growth is expected to accelerate sharply in 2021. Next year, private consumption should be the main growth driver as it recovers from the coronavirus-induced slump and the impact of social distancing measures.
Chinese Domestic Motorcycles Market Trend
In the year on which the spread of covid 19 is transforming the human interaction, causing economic transformation, including trends within the motorcycles global industry, China, the country which was the home-base for the virus, is conquering back, after 4 years, the global leadership within the two wheeler industry.
The Chinese market lost the global leadership in the 2016, after the introduction of more severe rules for emission and use of two wheelers, with volume dropped down by millions units, while the Indian market was fast growing, taking the leadership.
This year, India is losing deeply, with a full year projection of 20% lost, while the Chinese market is one the most resilient and is projected to end the year at the level of 2019.
Following a first quarter 20% lost, mainly caused by February shut down in most of Chinese regions, the market recovered with Q2 sales up 3.0% and Q3 up 7.6%.
The positive trend was in place even in the Q4 and following the October +12.0%, In November domestic market surged 5.4% with 1.6 million sales. After the first 11 months of the year, sales have been 15.7 million, up 0.4%.
Data reported include all motorcycles, scooter, moped, three and four wheelers. Data do not include the e-bike, the kick scooter and the Chinese specific small motorized vehicles, called light scooter.
Electric scooter and moped segment is over 20% of total
Something very interesting regarding this market is the speed taken by the electric scooter segment. As probably you know, the Chinese market has always been the largest in the EVs segment, thanks to a strong government push towards low emission vehicles, a key action in the long term polity to reduce the huge metropolitan areas pollution.
In the 2020, the EVs growth is robust with almost all players in a good shape, including the fast growing NIU. It is impressive the growth reported by YADEA, which project the 2020 at over 10 million two wheeler sales, with near 6 million scooter/moped.