Indonesia 2023. Two-Wheeler Market Booms (+20.1%) Consolidating The Third Place Worldwide

43729

Indonesian Motorcycles Industry is burning out. In 2023 the 2-wheeler sales were near 6.4 million (+20.1%), the fourth increase in a string, by far the best performance in the year among the Top 20 markets in the world.

Indonesian Motorcycles Industry Trend and Perspectives

The Indonesian Motorcycles market – the third largest in the World – kept the recovery pathway during the 2023 with a really impressive data, considering the unusual growth for a so large market.

In recent years the market has been always far from the highest levels reached over a decade ago (near 8 million annual sales) and the potential is well above the 2022 5.4 million.

Yamaha MT15
Yamaha MT15

We were expecting in 2023 a growth in double-digit, but the year ended with 2-wheeler sales near 6.4 million (+20.1%), the fourth increase in a string.

The growth is driven by the largest segment, the scooter, up 20.4%, while motorcycles segment contributes for a +17.5%. 

While still in its infancy, the electric segment is fast growing, with L1 category (equivalent to below 50 cc) up 360.0% and the L3 segment up 90.7%.

Looking at the competitive arena, the market leader in the annual data is Honda with sales up 25.4%.

In second place there is Yamaha (+0.2%) ahead of Piaggio (+19.2%) and Kawasaki (+13.9%).

The EV start up, Uwinfly, jumped in 5th place with sales up 1.652%, doing better than Suzuki.