Brazilian Motorcycles Market in 2023 is skyrocketing. Q3 sales speed did not went over (+21%), with Year to date September sales at 1.17 million (+22.0%) projecting the full year over 1.5 million.
Brazilian Motorcycles Industry Trend and Perspectives
Although the market grew up in the last consecutive five years, consumer’s demand keeps to be strong and this year is projected to be the sixth consecutive up.
The start of the year was over any expectations with the first half sales at 775.796 up a roaring 22.5%, one of the best performance worldwide.
However, during the third quarter sales speed did not went over and the quarter reported a new +21%, with Year to date September sales at 1.17 million (+22.0%) projecting the full year over 1.5 million, not far from the all-time record posted ten years ago.
Sales are improving driven by the motorcycles segment (+26.6%) while scooter demand is weaker (+13.4%).
Looking at top manufacturer’s performance, Honda is still on top with Year to date sales up 13.7% thanks to success of CG160 (+33.9%).
In second place Yamaha is growing as well (+44.8%) as the 3rd, Mottu a recent startup fast growing.
In 4th place Shineray increased sales by 37.6% , while in 5th, Haojue is up a huge 112.8%.
Brazilian Motorcycles Industry 2022
After a strong recovery by 5% in 2021, GDP growth is expected to slow significantly in 2022, to 2.7%, after the 6.2% reported in 2021. Rising inflation, the war in Ukraine, and tighter financial conditions have eroded economic sentiment and purchasing power, which is expected to strongly dent domestic demand.
However, GDP data has been revised up during the entire year and the 2023 could be better than the 2.5% expected.
The automotive industry keeps the renovation process towards a greener production and the two-wheeler sector benefit the most.
Indeed the motorcycles market is in great shape and keeps growing for the 5th year in a row. Full Year sales have been 1.29 million (+12.1%) the best results out of last 8 years.
Honda dominates the market with near 1 million sales (+12.9%) and a wide gap to all the competitors.
In second place there is Yamaha with 209.677 sales (+3.9%) and in third Shineray with 19.631 (+44.2%).
The electric market is finally showing some news, with the local start up, Voltz, moving up at record 4.175 sales.