Peruvian Motorcycles Market is vital and strong as the 2020 full year sales confirmed. Following a huge sales fall reported in the Q2 due to the lockdown, the market recovered fast ending the year at the level of the previous and scoring the third best results ever.
Peruvian Market Overview
The motorcycles industry is really a relevant sector within the Peruvian industrial production with a wide group of manufacturers active with local manufacturing facilities, arrived here from Japan, China and India to challenge the several local brands.
The market could be considered broken down in two different types of customer areas, with the metropolitan zone around the capital Lima, similar to the other South American metropolis, with demand for scooter, moped and tricycles for business purpose and the rest of the country, characterized for still poor road infrastructures, where the two wheeler demand is concentrated on off road, enduro and ATV models.
In the last decade the trend was positive, with annual sales continuously growing up, driven by the economic development and the correlated surging demand for individual mobility, both for business and leisure.
As in general all Latin American people, Peruvian love motorcycles and are huge followers of the industry development and racing activities.
The positive market pathway was interrupted in the 2018, actually the all-time record year, when the government introduced the Impuesto Selectivo al Consumo (ISC) a new tax for all new vehicles sold for private use, with a 10% due for petrol vehicles and a 20% for diesel.
However in 2019 and 2020 the market was not far from the record year. Impressive the 2020 data when considering the huge sales drop reported in the second quarter, due to the lockdown of all industrial and commercial activities.
Although this high gap, according to data released by the Minister of Transportation & Infrastructures, in the 2020 the sales have been 285.207 (both two wheeler and tricycles) down a mere 0.6% from the previous year.
In the competitive arena hundreds manufacturers fight, with the Japanese Honda leader but under attack by local manufacturers (Ronco, Wanxin), Chinese (Zonghsen) and Indian, with Bajaj Auto which over doubled sales in the 2020 reaching the third place.