Peruvian Motorcycles Market is booming. In the first half 2021 new registrations have been 251.520, up 156% vs the correspondent period in the 2020 and +52.1% vs the 2019, projecting the full year sales at the new all time record, over the 400.000 units.
Motorcycles Market Trend 2021
The Peruvian motorcycles market is on the sky this year!
The market has been positive in the last decade and the covid19 is just enhancing the demand for two wheelers, with sales boosted towards new records.
While the country is the World’s 49th economy, when considering the two-wheeler industry, it is in 17th place, thanks to the real boom in place.
The market grew up in recent years, sustained by strong demand and surging economy. The covid19 stopped the trend in the middle part of the 2020, but the crisis the renovated demand for individual mobility is pushing up the market again while the speed taken so far this year ia above any expectations.
Indeed, in the first half 2021 new registrations have been 251.520, up 156% vs the correspondent period in the 2020 and +52.1% vs the 2019, projecting the full year sales at the new all time record, over the 400.000 units.
In the competitive arena hundreds manufacturers fight, with the Japanese Honda (+141%) leader but under attack by local manufacturers (Ronco, Wanxin), Chinese (Zonghsen) and Indians, with Bajaj Auto as top seller.
Peruvian Market Heritage
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.