Latin America 2022. Motorcycles Industry Skyrockets Hitting New Records (+10.7%)

KTM SuperDuke 1290 GT
KTM SuperDuke 1290 GT

Latin America Motorcycles Market is skyrocketing again. in 2022 the growth continues, while with a more moderate speed, and sales grew up at 5.4 million (+10.7%).

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 and Panama. 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 in 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 5.4 million (2022) with several markets grew up from nowhere to the top of global ranking.

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.

However, in 2022 the growth continues, while with a more moderate speed, and sales grew up at 5.4 million (+10.7%).

The largest market is now Mexico (+13.1%), which surpassed Brazil (+12.4%) last year for the first time ever

The third market is Colombia , at the record volume, up 11.1%.

In fourth place a recovering Argentina (+6.8%).

The fifth is Peru , with the all-time record hit in 2021 and then declined 13.7%.

Posting the 11th annual record out of the last 11 years Guatemala  advanced in sixth place.

In seventh place there is Paraguay(+112%), followed by Ecuador (-8.8%), Honduras (at record with +19.1%) and Dominican Republic (at record as well with +36.8%) .