Ecuador Motorcycles Market keeps momentum although the economy slow speed. In 2024 the industry reported the second all time record in a string, with 214.592 sales, an 8.4% increase. Marker leader is the Chinese Shineray.
Economic Outlook
Ecuador’s economic performance in recent years has reflected the country’s vulnerabilities and resilience. A severe recession in 2020 saw GDP contract by -7.8% amid pandemic-induced demand shocks in hydrocarbons. By late 2023, the economy had already returned to pre-pandemic levels but remained under pressure from structural inefficiencies and external shocks. Growth fell again below the regional average in 2023 and stalled in 2024. It is set to rebound modestly to +1.2% in 2025.
Inflation trends reveal contrasting dynamics. While consumer prices rose only +0.5% year-over-year in 2024, producer prices spiked by +7.5%. If businesses fail to pass rising costs to consumers, insolvencies may proliferate in 2025.
Dollarization, a double-edged sword, has maintained historically low inflation but limits monetary policy tools.
Motorcycle Market Trend and Perspectives
In such difficult political and economic environment the motorcycle industry continues to grow up, being prefered by the local population as affordable solution for the individual mobility.
In 2024 the industry kept momentum reporting the second all time record in a string, with 214.592 sales, an 8.4% increase from the previous year.
The growth is driven mainly by the scooter segment (+11.1%), while motorcycle segment is +8.0%. However, motorcycle represents by far the largest section of the market.
Looking at the competitive arena, the leader was again the Chinese Shineray , which pushed the market up, increasing sales by 18.7% and defending the place with a wide gap.
The second was Daytona, a local brand, reporting sales up 40.5%, advancing IGM (-7.1%), Bajaj Auto (+8.8%), Ranger (-5.9%), Suzuki (+25.2%), Loncin (+26.3%) and many others.
