Spanish Motorcycles Industry has lost momentum after a roaring start of 2022. In April sales have been 14.442 (-12.4%) with Year to Date figures at 57.411 (+7.0%) and expectations for the rest of the quarter are negative. The market leader Honda boosted sales (+25%).
Spanish Motorcycles Industry Trend and Perspectives
In the 2022 the Spanish motorcycles market was expected to a double-digit growth driven by the demand for individual mobility, economic expansion, incentives to electric vehicles and a growing demand for evs.
These factors were expected to more than balance negative impact of growing inflation and production difficulties on raw materials purchase.
In effect, the market started very well with January and February sales up respectively 42.3% and 19.7%, before the Russian invasion of Ukraine. In March the market fell down 6.9% ending the first quarter with 37.021 sales (+12.8%), with scooter segment up 24.6% and motorcycles segment up 3.6%.
In April sales have been 14.442 (-12.4%) with Year to Date figures at 57.411 (+7.0%) and expectations for the rest of the quarter are negative. It is sensational the Honda performance so far, with the market leader sales up a huge 32.9% while the immediate followers, Yamaha and Piaggio performed +1.0% and +7.8% respectively.
As expected, the electric segment is fueling the scooter market with year to date sales grew up 70.6% in the L1 category (correspondent to below 50cc ICE) and the L3 category up 76.7%. Niu is market leader among electric manufacturers.
The Russian war to Ukraine has changed the industry scenario, with a negative short term effect due to the “panic” effect, which is pulling people to wait before spending. In addition, the fast growing inflation will reduce the purchase power in the middle term while in the short, the huge increase of petrol is penalizing vehicles purchase shifting more rapidly than before the focus on electric vehicles. Unfortunately, these vehicles are not available is large scale and just few models in the market have design and performance comparable with ICE models.
We have downgraded the second quarter forecasts, waiting for a more stable environment to fully review our 2022-2028 Market Outlook.
Motorcycles Market Trend 2021
The Spanish motorcycles market recovered in the 2021 partially offsetting the volume lost in the previous year.
Full Year 2021 sales have been 186.763, up 3.3%, still 10.000 units below the pre-covid level, one of the few countries in Europe not grown up after pandemic spread.
As in the last 10 years, the market leader is Honda with 2021 sales at 35.132, the best score since 2012, up 24.4%.
In second place Yamaha with 25.970 (+10.9%) hitting the best in the last decade.
Third ranked Piaggio with 16.956 (+0.6%) ahead of BMW with 11.923 (+8.1%) at the second level ever, after the 2019 record.
Losing one place, Kymco was 5th with 11.848 sales (-28.0%) and was followed by SYM with 9.876 (+7.7%), Kawasaki with 7.023 (-9.5%) and KTM with 6.099 (-6.9%).
The Electric Vehicles segment lost 12.6% with 12.006 sales, due to the fall of fleet market, while the B2C segment is growing up. Market leader is Silence (-51.7%) which produced for Seat, with a not positive results for both. In second place Niu Tech, with sales up 139.4% and in third Seat.