Brazil 2023. Motorcycle Market Jumped 21% Up

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Mottu Sport 110
Mottu Sport 110

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.