Latin America Motorcycles Market is skyrocketing. The start of 2025 was astonishing with a robust growth reported almost in all countries and regional sales surged at 2.8 million (+18.8%) the fastest growing region in the world.
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.
As far as the Latin America two-wheeler market, we actually cover a wide range of 16 countries, Brazil, Bolivia, Argentina, Colombia, Peru, Guatemala, Paraguay, Ecuador, Costa Rica, Honduras, Nicaragua, Chile, Uruguay, El Salvador and Panama. So when reporting data on the region, we mean the total of these countries.
Economic Outlook
Latin America and the Caribbean’s GDP growth hit 2.4% in 2024, according to the IMF’s January 2025 update of their World Economic Outlook report. The Economic Commission for Latin America and the Caribbean (ECLAC) also reached a similar, slightly lower conclusion, in its preliminary overview report of the region’s economies: 2.2% growth for 2024.
While the report notes that Latin America has been in a “trap of low growth capacity” over the last decade, with an average growth rate of 1% annually, the growth in 2024 was slightly higher than what ECLAC originally projected for the year—1.9 percent.
In 2025, GDP growth across the region is projected to be slightly higher, at 2.5 percent according to the IMF and 2.4 percent according to ECLAC. That’s lower than the IMF’s 2025 global GDP growth projection of 3.3 percent.
Although growth has been gradual, there is good news for the region’s economy: the IMF’s World Economic Outlook says that inflation rates across the region have “dropped significantly from their peaks” and continue to decrease. Unemployment in the region is also at historically low levels.
Motorcycles Industry Trend and Perspectives
The motorcycles industry in Latin America is fast growing since over a decade although single countries have struggled for a period hit by local crisis (Argentina and Brazil more than others). In the last ten years the industry grew up from 3.7 million (2012) to 4.9 million (2024).
In this decade the market really changed, with historical countries, like Brazil, be back at the previous splendor after few years of decline, and new markets booming, like Guatemala, Colombia, Peru, Ecuador.
The start of 2025 was on the same pathway with a robust growth reported almost in all countries and regional sales surged at 2.8 million (+18.8%) the fastest growing region in the world.
Even the electric scooter segment is finally born and in the half reported over 10K sales (+93.7%), the start but promising data for the segment.
The largest market is Brazil which grew fast in recent 5 years and joined the Top 10 markets worldwide. In this half sales improved 9%.
The second market is Colombia, the hub country for production in the entire North-West region, which improved an astonishing 33.9%.
The third is Argentina (+48.7%) which is taking great benefit from the current government reforms for the automotive industry
In fourth place the second largest central american market (Mexico is not included in Latam, but in North American region) and is Guatemala, a country hitting a record each year and now growing 20.6% compared with the corresponding period last year.
In fifth place Peru , which is growing 21.2%, following the shy +3.8% reported last year.
In sixth place there is Ecuador (+18.3%), followed by Honduras (-2.7%), Dominican Republic (-0.4%), Bolivia (+11.6%), Costa Rica (+31.2%), El Salvador (+1.6%), Paraguay(+6.2%), Uruguay (+26.2%), Chile (+128.9%) and Panama (+41.6%)
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