Taiwan 2023. Motorcycles Market Fast Recovered (+18.7%) Driven By Sym Vs. Kymco Fight For Leadership

20365
SYM RV180
SYM RV180

Taiwan Motorcycles Market fast recovered in 2023. Following the previous year decline, in 2023 the market score a robust recovery with sales at 913.988 (+18.7%) scoring the third highest level ever.

Taiwan Motorcycles Industry Trend and Perspectives

The Taiwanese two-wheeler market is the eleventh largest in the world. While it is opened to free import, it is heavy concentrated in the hands of the domestic manufacturers, with Kymco and SYM always fighting for leadership and raising new electric scooter manufacturers.

Following the previous year decline, in 2023 the market score a robust recovery with sales at 913.988 (+18.7%) scoring the third highest level ever.

The growth was driven by the scooter segment (+19.4%) while the motorcycle declined 9.6.

The electric segment is not growing with the L1 segment down 5.8%% and L3 segment down 9.1%.

In the duel among local giants, SYM further gained terrain, improving by a roaring 38.8% while the rival Kymco gained 26.0%.

Behind Yamaha (+2.1%), Gogoro (-12.8%), Suzuki (+65.0%) and PGO (-23.2%).