Chinese Motorcycles Market is rolling down. During the first three months of 2025, new motorcycles registrations have been 2.95 million (-2.9%). The electric segment is flat but Yadea, the market leader, is struggling.
Economic Outlook
Higher-than-expected U.S. tariffs are likely to weigh on China’s economic growth. We have lowered our GDP growth forecast from 4.5% to just above 4%. Growth headwinds would be felt through reduced exports to the U.S. and less room for diversion of exports to other countries, a shock to confidence weighing on investment, and weaker global demand.
Supply-centric policy support has reinforced a negative feedback loop between weak demand and low prices. Both the magnitude and composition (that is, greater support to consumers) of policy stimulus are critical to breaking the cycle.
Motorcycle Market Data and Trend
The increased Chinese pro capita income signed the decline of domestic 2-wheeler market, with cars becoming the favourite individual mobility device and metropolitan areas banning the 2W use in the centers, aiming to reduce accidents and expand public transportation usage.
Meanwhile, the new middle class is looking at 2W as leisure product and while the total domestic market is declining, the «premium» (over 250cc) segment is fast growing thanks to import and new premium domestic OEMs, like Voge, CF Moto, Kove, Benelli, QJ Motor and many others.
Domestic electric market is already the biggest in the world (near 80% of the total) but is now changing towards technologic solutions, high specs and higher power model, thanks to new battery generation.
While the market is growing in terms of value, considering the registrations figures, it is sharply declining, with less than 13 million sales (registrations) in 2024, a 13.7% or 2 million decline from the previous year.
The data includes motorcycles, scooter, underbone and registered moped.
The start of 2025 was a bit better, but the market is declining again. During the first three months of 2025, new motorcycles registrations have been 2.95 million (-2.9%).
The negative trend is not a surprise as total, while the fact that the electric segment is sharply declining can be considered sensational. However, the decline is one of the effects of the transformation inside the industry, with the OEM involved in developing the new generation EVs, more competitive in terms of specification, options and power and less focused on low price.
The electric vehicles segment in 2025 is stable (+0.4%) with all major players losing terrain, but with the leader Yadea, losing more than any other.
