Brazilian Motorcycles Market is skyrocketing. Sales in 2023 reached the 1.57 million, with a huge +21.4% versus the previous year, not far from the all-time record. Honda, Yamaha and Shineray on the podium.
Brazilian Motorcycles Industry Trend and Perspectives
The Brazilian 2-wheeler industry is in a growing path since 2017, the year after a huge fall, when sales declined at 0.85 million, the worse perfomance in over a decade.
In the last seven years the market grew up continuosly -with a temporary break in 2020 due to covid 19 effects – and in 2023 reached the second highest level ever.
Indeed, sales in 2023 reached the 1.57 million, with a huge +21.4% versus the previous year, not far from the all-time record.
Sales improved driven by the motorcycles segment (+23.1%) but even the scooter segment was strong (+18.0%).
The Electric segment declined 3.2%, with L3 segment up 65.3% and L1 segment down 43.0%
Looking at top manufacturer’s performance, Honda is still on top with sales up 15.0% selling over 1 million vehicles
In second place Yamaha is growing as well (+35.5%) while the Chinese Shineray confirmed the third place gaining 58.5%.
In fourth place the local electric start up Mottu, boomed 653.5% with over 25K sales.