Ecuador 2020. Motorcycles industry was resilient losing 7.5%. Shineray on top of the list

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Ecuador Motorcycles industry in the last decade boomed becoming a strong reality for the Latin America market. In 2020 the market was resilient with 160.900 sales (-7.5%), scoring the third highest level ever. The Chinese Shineray is market leader ahead of two local manufacturers.

During the last decade the motorcycles industry in Ecuador reported a real boom becoming a driver for individual mobility and a relevant industrial sector, thanks to the development of several local manufacturers.

Between the 2012 and the 2019 the market grew up 23 times growing from few thousand units top a record of 173.815 sales, becoming the seventh largest market in the Latin America.

The industry development was enhanced by the import of low cost vehicles from China. The availability of a wide choice of models at affordable price was a key factor to push consumers to consider the motorcycles as a real and efficient alternative to the cars, even considering the pro capita income in the country is still low.

The industry growth pushed local investor to enhance the local production, with several manufacturers expanding their production, initially using several low cost Chinese component than then developing your local network of local supplier.

Indian manufacturers, importing from Colombia, found the environment fitting their product offer and fast taken market share. Japanese, have lost share, considering that Suzuki, market leader in 2012 with 22.3% of market share, actually holds only 6.6%, while selling over 10 times more.

Finally, premium brands landed from Europe to take their part of the pie.

Ecuador Motorcycles

In this tremendous scenario, in March 2020 arrived the covid 19, stopping the growth as the country was one of the most hit by the virus.

Although the country was subject to several lockdown, the motorcycles industry was almost resilient, losing but in acceptable range, confirming the strong growing trend on the base.

In the entire 2020, sales have been 160.900 (-7.5%), scoring the third highest level ever.

Actually there are 195 different brands competing in the market. However, the leader is the Chinese Shineray with 26.845 sales (-8.8%) followed by the local manufacturers Ranger with 14.223 (+19.7%) and Daytona with 12.474 (-9.0%).

In fourth place the best Japanese, Suzuki, with 10.645 (-28.3%) followed by the best Indian manufacturer, Bajaj Auto with 9.264 (-25.6%).