Global motorcycle market: sales collapse sharply

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Global motorcycle market: sales collapse sharply
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Global motorcycle market: Sales collapse sharply

Global motorcycle market 2020
Sales collapse by 18 percent

Despite the motorcycle boom in many markets, sales in the motorcycle industry will plummet in 2020. The corona pandemic brings joy and sorrow here.


Uli Baumann

01/12/2021

Italian financial analysts from Finaria have taken a close look at the global motorcycle market and prepared the financial results for 2020.

The corona pandemic changed mobility behavior around the world, from which the two-wheeler industry was able to benefit greatly. Individual traffic increased, with many relying – especially in urban areas – on motorized two-wheelers as a flexible and inexpensive means of transport. Accordingly, various markets were able to post new record sales. On the other hand, Corona hindered production and trade. The increased interest in motorized two-wheelers could not compensate for the economic restrictions.

Sales slump by 18 percent

According to Finaria, global motorcycle sales in 2020 fell 18 percent and $ 24.6 billion to a sales volume of $ 108.8 billion. The forecast for 2021 does not look rosy either. The downsizing trend is set to continue this year, with the entire industry losing another $ 3.3 billion in sales. According to the analysis, sales will continue to decline in the following years 2022 and 2023. In 2013, global motorcycle sales were still $ 135.9 billion. For 2019, $ 133.4 billion is named.

Honda’s strongest brand

According to Finaria Honda, the dominator on the motorcycle market was in 2020 with a market share of 40 percent. Yamaha comes second with a market share of 12.9 percent. Both Japanese groups control over 50 percent of the market, followed by Indian motorcycle manufacturers Hero and TVS with market shares of 3.9 and 3.8 percent, respectively. Harley Davidson still manages 3.6 percent.

India is the largest market

The largest motorcycle market in the world in terms of sales remains India. Sales of $ 18.3 billion are expected for 2021, a decrease of 18 percent compared to 2019. The leading Indian manufacturer is Hero with a market share of 35.1 percent. Honda has 25.6 percent in India, TVS is 14.9 percent. China is the second largest market in the world. Sales of $ 13.5 billion are expected here for 2021, a decrease of 26 percent in two years. The Vietnamese market, the third largest in the world, also recorded a significant decline in sales in the wake of the corona pandemic. The value will decrease from $ 12.5 billion in 2019 to $ 9.9 billion in 2021. Statistics show that the top three motorcycle markets lost $ 11.5 billion in revenue due to the COVID-19 pandemic.

Conclusion

Even if the German market is booming in 2020, the motorcycle business looks rather gloomy worldwide. Sales are falling sharply and a trend reversal is not in sight.

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