Latin America 2021. Motorcycles Industry Hit Top Sales Ever in First Half

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honda-cg-2020
honda-cg-2020

Latin America motorcycles market (16 countries) is on the sky. In the first half 2021, sales in the region have been at 2 million, up 36.3% vs the correspondent period in 2020 and +10.9% vs the 2019, hitting the highest level in the history.

Please note data reported regards the motorcycles industry in large extended, including not only 2/3 wheelers as moped, scooter, motorcycles, but even other vehicles, like ATVs, usually included in this industry. 

Motorcycles Industry Data Perimeter

As far as the Latin America two-wheeler market, we actually cover a wide range of 16 countries, Brazil, Bolivia, Argentina, Colombia, Peru, Guatemala, Paraguay, Ecuador, Costa Rica, Honduras, Nicaragua, Chile, Uruguay, El Salvador, Panama and Belize. So when reporting data on the region, we mean the total of these countries.

Said this, in all the Latin American countries the motorcycles industry has a relevance both in terms of local production, when thousand people are employed in the industry, and market, as the two-wheelers still have a key rule as low-cost mobility device for millions people.

There are production plants in Brazil, Colombia, Argentina, Ecuador, Guatemala, Uruguay and Paraguay with over 250 manufacturers in competition.

Motorcycles Market Trend

The economic difficulties actually emerged in several countries have deeply hit the motorcycles industry in the region during the 2020, with all top countries declining in double digit, with a full year sales (including motorcycles, tricycles, scooter, moped, ATV) ended at 2.66 million, the lower level in the last ten years.

Not only covid19 is penalizing the industry. In the global economic crisis all the local currency hit a strong devaluation, penalizing all imports. While most of vehicles are locally assembled, the parts and components arrive from outside (mainly China and India) and their prices shifted on the sky this year, both for raw material and transportation fees.

However, apart all these issues, the 2020 decline was just temporary, breaking the positive trend in place before the pandemic for a while and, although economic, social, political issues raised by covid are still limiting the market potential, the 2021 is showing a sharp recovery.

In the first half 2021, sales in the region have been at 2 million, up 36.3% vs the correspondent period in 2020 and +10.9% vs the 2019, hitting the highest level in the history.

While the largest market, Brazil was slow recovering (+8.7%), other markets are very fast: Colombia +54.2%, Peru +152%,  Argentina 47.2%, Ecuador 23.4%,  Guatemala +37%, Paraguay +154%, Dominican Republic +92%, Honduras +24.8%, 

The model featured in this articles, the Honda CG 160 Fan 2020 is the best-selling model in the region with over 160.000 registrations this year, followed by the Honda BIZ110 and the Honda NXR160