Argentine Motorcycles Market in 2023 keeps momentum. In Q3 the market accelerated with July sales +9.8% doing even better in August (+29.5%) and September (+15.9%), with Year to Date figures at 273.838 (+7.8%).
Argentina Motorcycles Industry Trend and Perspectives
Motorcycles are very popular in Argentina and although the market waves across economic and financial crisis involving the country at each level, the 2-wheeler industry is quite relevant in the country and one of the largest in the world, ranking in 16th place.
Following the negative peak reached in 2020 when the market fell down at 262.271 annual sales, a strong recovery is in place and the current year is projected to hit the third growth in a row, with near 10% increase.
The start of the year was very positive with the first half sales at 236.622 (+7.5%).
In Q3 the market accelerated with July sales +9.8% doing even better in August (+29.5%) and September (+15.9%), with Year to Date figures at 273.838 (+7.8%).
The market is driven by the motorcycles segment (+22.1%) while scooter demand is shy (+2.7%%).
A peculiarity of this market is that the electric segment is not yet born and the few sales in this segment are not yet pushing up the market. But this will happen, as in the rest of the World.
Looking at top manufacturer’s performance, Honda is still on top with Year to Date sales up 30.9% thanks to success of Wave 110i 2023 M.Y.
Jumping ahead 28.9%, Bajaj Auto has taken the second place overtaking the local manufacturers Motomel (+10.3%) as Gilea (+59.7%).
In 4th place Zanella increased sales by 9.1% , while Corven is up 13.4%.
Argentinian Motorcycles Industry 2022
While the rest of the World is fighting against an inflation rate around 10%, In Argentina the inflation was over 100% in the last months, while the GDP is growing only 4% (and is expected down to 2% in the next year).
If cash has no value, people spend all the income as soon as they can and the 2-Wheeler seems to be one of the preferred good to purchase this year.
And the motorcycles industry looks in a great shape. In fact, full year sales have been 406.114, up 6.8% the highest level out of last 5 years.
Looking at the competitive arena, the top seller is Honda (+21.8%) followed the local brands: Motomel (+4.9%), Corven (-0.9%) and Zanella (+22.0%).