Latin America 2021. Motorcycles Industry Hits All Time Record (+23.9%)

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KTM SuperDuke 1290 GT
KTM SuperDuke 1290 GT

Latin America motorcycles market (16 countries) is on the sky. In 2021 the industry scored one of the best increase ever, jumping from 4.2 million in 2020 to 5.2 million (+23.9%) resulting by far the strongest region worldwide, 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. 

As far as the Latin America two-wheeler market, we actually cover a wide range of 17 countries, Mexico, 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.

Motorcycles Market Trend

We can affirm that Latin people love motorcycles.

The motorcycles industry is the Latin America is fast growing since over a decade although single countries have struggled for a period for local crisis (Argentina and Brazil more than others). In the last ten years the industry grew up from 3.7 million (2012) to 5.2 million (2021) and there are markets boomed in this year, like Mexico, Guatemala, Ecuador, Honduras.

In 2021 the industry scored one of the best increase ever, jumping from 4.2 million in 2020 to 5.2 million (+23.9%) resulting by far the strongest region worldwide.

The largest market is now Mexico, which surpassed Brazil (+4.6%) for the first time. Brazil is recovering while still 20% below the record hit over a decade ago.

The third market is Colombia after hitting the new all time record volume (+41.5%).

The fourth is Peru , with the all-time record hit last year as well (+49.7%) and is followed by a recovering Argentina (+44.4).

Posting the 10th annual record out of the last 10 years, in 5th place there is  Guatemala  (+8.9%).

In sixth place and hitting the new record there is Ecuador (+11.8%) followed by Honduras (at record with +24.6%), Dominican Republic (at record as well with +15.5%) and Paraguay(+133.6).

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honda-cg-2020