Peruvian Motorcycles Market is consolidating the last year record volume. booming. In the first quarter, two-wheeler sales have been 84.444, flat from the previous year, while the electric segment is finally starting up, with 808 sales, up 98% from the previous year.
Peruvian Motorcycles Industry Trend and Perspectives
In the 2022 the Peruvian motorcycles market was expected to a single-digit growth to consolidate after booming up in the previous year at record level and the start of the year is in line with it.
In the first quarter, two-wheeler sales have been 84.444, flat from the previous year, while the electric segment is finally starting up, with 808 sales, up 98% from the previous year.
Honda is consolidating the leadership with a double-digit growth. It is followed by the local manufacturer Wanxin (+-16%), by the Chinese Zongshen (+5.9%) and the Indian Bajaj Auto (-2.7%).
Motorcycles Market Trend 2021
The Peruvian motorcycles market is on the sky! 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 ranks only 49th s the World’s economy, when considering the two-wheeler industry, it is in 17th place, thanks to the huge boom in place.
The market grew up in recent years, sustained by strong demand and surging economy. The covid 19 stopped the growth in the middle of 2020, but it was a short crisis and the renovated demand for individual mobility is pushing up the market again while a faster speed.
And in fact in the 2021 new registrations (including both 2 and 3 wheelers) have been 425.427, up 49.7% hitting the new all time record, first time over the 0.4 million.
In the competitive arena there are hundreds manufacturers fight, with the Japanese Honda (+81.7%) leader but under attack by local manufacturers (Ronco, Wanxin), Chinese (Zongshen, Lifan overall) and Indians, with Bajaj Auto (+31.2%) 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.