Argentine Motorcycles Market keeps recovering. In 2024 sales have been 484.422 sales (+3.4%) more than the double of the 2020. While Indian OEMs are losing terrain, several Chinese manufacturers are shining and Voge overall.
Argentina’s motorcycle industry trend and perspectives
The International Monetary Fund (IMF) has changed its forecast for Argentina’s economy and now estimates that GDP will shrink by 3.5% in 2024. The data from the July World Economic Outlook (WEO) report shows the multilateral organization expects the recession to worsen over the upcoming months in Argentina: in April, it had estimated GDP to drop 2.8% during this year.
The Fund also predicted a 140% annual inflation rate for 2024, a correction to its April estimate of 149.4%. Argentina’s prices went up by 211% during the 2023 calendar year. However, there are better hopes for 2025: the report forecasts the national economy will grow by 5%. It is the same forecast made in its previous WEO report from April and one of the most optimistic for the region.
The motorcycle industry, one of the most relevant industrial activity in the country, continue to grow and in 2024 scored the fourth annual increase in a row with 484.422 sales (+3.4%) more than the double of the 2020, when the market fell down, hit by the covid effect.
A peculiarity of this market is that the electric segment is still very small, with just over a thousand sales per year, and in 2024 reported a 16% decline.
Looking at top manufacturer’s performance, Honda is still on top, losing less than the market (-1.7%).
Behind them, with almost half the sales of Honda, there are four local manufacturers: Motomel (+13.4%), Corven (-2.2%), Gilera (+1.6%) and Zanella (-11.9%).
While main Indian companies have lost terran (Bajaj -12.9%, Hero -9.6%, Royal Enfield -17.8%, TVS -34.1%) during the 2024 several Chinese OEMs shine: Voge was the star with a +1455%, but even others including CF Moto (+39%), Zontes (98%), Lifan (+85%).
