Brazilian Motorcycles Market is skyrocketing. In the third quarter sales are still hot with +27.8% and +14.8% reported respectively for July and August and YTD sales at 1.25 million (+20.1%). Shineray and Bajaj Auto are shining.
Brazilian Motorcycles Industry Trend and Perspectives
Building on the significant growth observed in recent years, with the domestic market expanding from under 1 million units in 2018 to 1.57 million units in 2023, securing its position as the seventh largest in the world, it appears that the demand for new two-wheelers remains robust. It is anticipated that we will witness yet another record-breaking year.
Indeed, during the first six months of 2024 sales of new motorcycles have reached 929.562 (+19.8%), a huge increase after the +21.3% scored last year. In the third quarter sales are still hot with +27.8% and +14.8% reported respectively for July and August and YTD sales at 1.25 million (+20.1%).
While the motorcycle segment is growing at a rapid pace, with sales up 15.2% year-on-year, the scooter segment accelerated even more and is up 30.2% this year, so far.
Looking at the top manufacturer’s performance, Honda is still on top with sales up 17.1% surpassing half a million vehicles sold.
Yamaha follows in second place, also showing growth (+11.7%), while the local manufacturer Mottu slipped in fourth place with a sales rise of 50.3%, overtaken by the Chinese company Shineray, which has seen a remarkable increase of (+12.7%). All other manufacturers show a string increase in sales, ranging from +7.2% (SYM) to an astonishing +142% (Bajaj).
