Colombian Motorcycles Market in 2024 is in good shape. During the first six months of the year, new vehicles sales have been 368.384 (+8.2%) projecting the second best year ever. Yamaha is market leader.
Colombian Motorcycles Industry Trend and Perspectives
Colombia’s economic growth will begin to accelerate gradually during the second half of the year. Domestic demand is expected to consolidate by 2025. Growth is projected at 1.8% in 2024 and 2.8% in 2025. Inflation will continue to decrease, enabling the Central Bank to expedite rate cuts from the end of the year.
Following the sharp -16% decline reported in the previous year, the 2-wheeler market has a good tone this year, consolidating the position as second largest market in South America, after Brazil.
During the first six months of the year, new vehicles sales have been 368.384 (+8.2%) projecting the second best year ever.
Sales increased both in the motorcycles (+8.4%) and scooter (+6.7%) segments.
Looking at top manufacturer’s performance, Yamaha is market leader with sales up 15.1%.
In second place AKT (+9.5%) followed by the local Bajaj Auto (+1.6%).
In 4th place Suzuki +14.2%, while Honda in 5th place gains a deep 31.4%
Colombian motorcycles industry heritage
In the last decade the Colombian motorcycle industry was completely transformed becoming not just a lifestyle sector, as in the past, but a key factor in the private mobility, thanks to the expansion of product offer, the fall of prices, the increased care for safety and the youngest generation love.
So today there is a wider range of consumers approaching the purchase of a motorcycle to transport themselves to the university, to their workplaces or working for the new fast developing category of delivery-men, people who use motorcycles to fast deliver everything, from food to goods.
Today in Colombia over 50% of vehicles park is on two-wheeler and in average there is a motorcycles each 5 people living in the country. These data allow to explain why motorcycles are actually an important tool for Colombians, for transportation, for lifestyle and for working as well.
To achieve these outstanding performance a brilliant job has been done by the government, which has progressively changed rules to guide the sector evolution, and by the manufacturers, which have made a tremendous effort to create local facilities and produce high quality-good priced vehicles and related products such as accessories, equipment and special clothing.
In Colombia there are six motorcycle manufacturers (the oldest is active since 1942) which operate assembling in partnership with top international firms, like Honda, Kawasaki, KTM, Kymco, Victory, Yamaha, Suzuki, Hero producing both for domestic market and export.
The Colombian motorcycles market is the third largest in Latin America after Brazil, Mexico and ahead of Argentina.
