Taiwan 2024. Motorcycles Market Is Steady Following Last Year Party

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SYM RV180
SYM RV180

Taiwan Motorcycles Market is steady in 2024. Following the previous year boom, in the first four months of the year, total sales have been 240.181 (-2.8%). Kymco recovers terrain versus the leader SYM.

 

Taiwan Motorcycles Industry Trend and Perspectives

The Taiwanese two-wheeler market is the 12th 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, with the presence of several local manufacturers of electric scooter.

Following the previous year decline, in 2023 the market score a robust recovery with sales at 871.734 (+14.8%) scoring the third highest level ever.

After such big performance, in 2024 the demand is lower and sales are steady. Indeed, after the first four months of the year, total sales have been 240.181 (-2.8%).

The decline is driven by the motorcycle segment (-32.2%) while the scooter lost 2.1%.

The electric segment is in crisis  with the L1 segment down 23.7%% and L3 segment down 60.0%.

Looking at the competitive arena, in the duel among local giants, SYM further lost terrain, improving 1.1% while the rival Kymco gained 26.0%.

Behind Yamaha (-12.6%), Gogoro (-20.1%), Suzuki (+62.1%) and PGO (-18.8%).