Argentina 2024. Motorcycles Market Down In Double-Digit Losing The Momentum

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Zanella X_700
Zanella X_700

Argentine Motorcycles Market lost momentum. Sales in the first quarter 2024 have been 108.997 (-12.4%) and the outlook for the rest of the year is negative. Honda overperforms losing only 3.5%.

 

Argentina Motorcycles Industry Trend and Perspectives

While the economic environment in the country is almost hard and the inflation just jumped over 350%, the motorcycles industry, one of the most relevant in the country, in the first quarter 2024 inverted the outstanding pathway taken in the previous 36 months, posting a double-digit lost.

While the government removed the import duties imposed by the former government, aiming to support the automotive industry, several OEMs are facing troubles on cash and have not been able to keep the growing speed.

Sales in the first quarter have been 108.997 (-12.4%) and the outlook for the rest of the year is negative.

The market decline was driven by the motorcycles segment (-13.7%), but scooter demand was weak as well (-11.5%).

A peculiarity of this market is that the electric segment is still very small with just over 1K sales per year. However, in Q1 the EV segment increased 4.3%.

Looking at top manufacturer’s performance, Honda is still on top with sales down 3.5%

Immediately behind there where 4 local manufacturers: Motomel (-19.7%), Corven (-13.4%), Gilera (-6.9%) and Zanella (-22.0%).

Honda CBR
Honda CBR