Indonesian Motorcycles Industry slow down in Q1 2024. Sales have been 1.78 million (-3.9%), a positive performance compared to the huge score posted in the correspondent period last year. Yadea starts local production.
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.
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.
Following a so successful year, the start of 2024 was expected to pay duties with a market deceleration and indeed, this was the case.
In the first quarter, sales have been 1.78 million (-3.9%), a positive performance compared to the huge score posted in the correspondent period last year.
The growth is driven by the smaller segment, the motorcycle, up 10.4%, while scooter segment lost 4.5%.
While still in its infancy, the electric segment is fast growing, with L1 category (equivalent to below 50 cc) up 216% and the L3 segment up 88%.
Looking at the competitive arena, the market leader in the annual data is Honda with sales down 5.4%.
In second place there is Yamaha (-2.4%) ahead of Piaggio (-5.6%) and Kawasaki (-3.1%).
The EV start up, Uwinfly, jumped in 5th place with sales up 191%, doing better than Suzuki.
In these days, the Chinese Giant and EV leader Yadea, announced a huge investment to produce electric scooter and motorcycles in Indonesia.
The inaugural vehicle delivery ceremony, held on March 14th, 2024, in Cikarang, Bekasi, Indonesia, marked a monumental milestone for Yadea’s expansion efforts in the Southeast Asian region.
Situated in Bekasi, West Java Province, the Yadea Indonesia production base encompasses a sprawling area of 28,000 square meters, boasting state-of-the-art facilities and cutting-edge technologies. With an impressive annual production capacity of 300,000 units.
