Yamaha’s 2025 global sales were flat at 4.8 million units, with market share down 0.4 pts, leaving volumes still below 2019 levels and roughly 25% under the 2012 peak despite a growing global market. The structural decline in core ASEAN markets signals loss of competitive ground to Honda and emerging Chinese and Indian rivals.
McD tracks new vehicles registrations across the World (97+ countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
For nearly five decades, Yamaha has been the world’s second-largest motorcycle manufacturer—often the only company capable of challenging Honda in selected markets. Today, however, Yamaha faces mounting competitive pressure from fast-rising Chinese “premium” brands and increasingly ambitious Indian manufacturers.
Over the past decade, Yamaha has struggled to respond effectively. While the global two-wheeler market has expanded, Yamaha’s volumes have stagnated and its global market share has steadily eroded.
The 2025 results confirm this structural trend. Global sales remained flat at 4.8 million units, while market share declined by 0.4 percentage points. Although Yamaha retains third place globally, volumes remain below pre-COVID 2019 levels and are roughly 25% lower than the 2012 peak.
The most concerning signals come from ASEAN, historically Yamaha’s strategic stronghold. Compared to 2012 peak levels:
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Vietnam: -72%
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Indonesia: -46%
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Thailand: -51%
These are not marginal markets—they are core pillars of the global motorcycle industry. In these countries, Honda has consolidated leadership while new competitors gain ground, suggesting Yamaha is losing structural positioning rather than experiencing cyclical softness.
In contrast, Yamaha maintains relatively stronger positioning in North America, Japan, and Europe, where it continues to operate as a premium and performance-oriented brand. However, these markets lack the volume scale of ASEAN and cannot fully compensate for the long-term erosion in Southeast Asia.
Yamaha Heritage and Innovation
Founded in 1955 under Genichi Kawakami, Yamaha entered the motorcycle industry with the YA-1, a 125cc two-stroke single-cylinder model. Throughout the 1960s and 1970s, Yamaha built a strong technological identity, moving from two-stroke performance machines (RD and RS families) to competitive four-stroke platforms as regulations and consumer preferences shifted.
Key innovation milestones include:
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1968 XS-1 (650cc four-stroke twin) competing with British icons
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Early 1970s reed-valve induction two-strokes
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1998 YZF-R1, which redefined superbike packaging and performance
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Development of the Star Motorcycles brand in the U.S. cruiser market
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Expansion of global subsidiaries, including strong ASEAN industrial presence
Yamaha’s legacy is deeply rooted in engineering innovation and racing DNA. However, heritage alone does not guarantee competitive resilience in a rapidly shifting global landscape.
Strategic Assessment
Yamaha today faces a dual challenge:
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Defending share in high-volume ASEAN markets where competitive pressure is most intense.
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Reinforcing premium positioning in developed markets without sacrificing global scale.
Flat volumes in a growing global market indicate structural competitive pressure. The key question for the next cycle is whether Yamaha can leverage its brand equity and engineering capabilities to regain momentum—or whether it will gradually transition from volume challenger to niche performance player.
