Paraguay 2021. Motorcycles Industry Recovered (+207%) Fast

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Paraguay Motorcycles Market is recovering after the 2020 fall. Motorcycles industry strongly recovered during the 2021, following the huge fall reported in the previous year. Annual sales were 94.281 (+207%) partially recovering while standing far from the over 200k record scored in 2017.

Motorcycles Market Trend in 2021

Paraguay is one of the countries that was best able to cope with the COVID-19 pandemic due to its stability and macroeconomic discipline. In 2020, Paraguay recorded the smallest GDP contraction and one of the smallest increases in moderate poverty in the region (2.6 percentage points at 18% at US$5.5 per day).

However, like other countries in the region, it is currently facing rising inflation, a historic drought, and a highly uncertain global scenario. The Paraguayan economy recovered strongly in 2021 after two years of recession due to drought in 2019 and the COVID-19 pandemic in 2020.

Real GDP grew by 4.2% year-on-year in 2021, driven by strong investment growth fixed, both in private and public construction works, as well as by the growth of private consumption.

The Motorcycles industry strongly recovered during the 2021, following the huge fall reported in the previous year. Annual sales were 94.281 (+207%) partially recovering while standing far from the over 200k record scored in 2017.

The market is dominated by local manufacturer with Kenton, market leader with over one fourth of market share, followed by Taiga, Honda, Moto Star and Maruti.

In the 2022 the market is expected to struggle, due to countries economic environment deteriorating sharply.