European Motorcycles Market is booming. The economy trend influence over the 2-wheeler market is clear looking at the Year to Date August 2024 continental sales (within 38 countries, from Portugal to Russia), with total figures at 2.1 million (+13.9%) projecting the best results in the last 25 years.
Please note data reported regards the motorcycles industry in large extended, including not only 2/3 wheelers as moped, scooter, motorcycles, but even other vehicles, like ATVs, usually included in this industry. Differently from ACEA and other local sources (like FEBIAC), we do not consider the powered-bicycles inside the industry, even because data available regards only registered bicycles and are limited to those countries (Belgium, Netherlands, France) where a plate is required.
Economic Environment
The cautious optimism seen in the eurozone at the start of 2024 has partly materialized. The combined eurozone economy grew more than anticipated in the first quarter (0.3% quarter on quarter), as net exports (exports minus imports) boosted growth while private consumption grew modestly.
Eurozone exports declined disproportionally (compared to world trade) last year, especially at the end of it This hints at the fact that this growth at the beginning of the year might be a base effect—at least partly. While consumer expenditures grew, real income grew even more, driving growth in their savings rate—that is, while consumers could have spent more, they saved at least part of their extra income in things like savings accounts.
This economic recovery continued in the second quarter at the same pace (that is, 0.3% quarter on quarter): Although the details are yet to be published, it is likely that consumer expenditure was the primary factor supporting this growth. Yet, development was not uniform across countries: Spain’s economy grew by 0.8% and Germany’s economy contracted slightly (according to the flash gross domestic product estimate), while France and Italy grew moderately (0.3% and 0.2%, respectively), compared to the last quarter.
European Motorcycles Industry Trend and Perspectives
Following the record growth reported in 2023, the European motorcycles market keeps growing up in 2024, while with huge gap among single countries performances.
The market is mirroring the economic trends inside the continent with the EU region and the UK suffering for economic low expansion.
The economy trend influence over the 2-wheeler market is clear looking at the Year to Date August 2024 continental sales (within 38 countries, from Portugal to Russia), with total figures at 2.1 million (+13.9%) projecting the best results in the last 25 years.
However, looking at single country, the differences are sharp.
At country level, Turkey is the largest market with sales up again 39.2% after the +119.3% reported last year, ahead of Italy (+5.2%), France (-1.0%) and Germany (-5.1%).
In fifth place Spain (+3.7%) followed by UK (-2.1%) Greece (+19.5%) and the Netherlands (-3.4%).
Looking at the competitive arena, the market leader is Honda with sales up 13.1%, followed by Yamaha (+18.1%), Kuba (+55.8%), Piaggio (-7.7%) and BMW (-0.9%).
Details by country are available in the specific post we dedicate them.
