The global market for motorcycles (Part 1): India leads global production and sales
A summary of markets in India, China, Indonesia, Thailand, and other ASEAN nations
2016/08/09
- Summary
- Global motorcycle demand and production volume
- India: Leading the world in production and sales in the fiscal 2016; slowing growth
- China: Production of motorcycles and three-wheelers in fiscal year 2016 declines for fourth year in a row; falls below 20 million unit mark for first time in ten years
- Indonesia: Sales in 2015 decline 16% to 6.48 million units due to economic stagnation; 6 million unit level forecast for 2016
- Thailand: Sales in 2015 drop for third consecutive year by 1.6% to 1.67 million units; signs of recovery in 2016
- (Reference) Production and Sales in Vietnam, the Philippines, and Malaysia
Summary
This report presents an overview of major motorcycle producing countries around the world. Part 1 examines developing countries that are major producers including China, India, Indonesia, and Thailand. Part 2 will focus on Brazil, Pakistan, Japan, Europe, and the U.S.
According to Yamaha Motor Co., Ltd., global demand for motorcycles in 2015 resulted in sales of 52.64 million units, down 5.4% year-over-year (y/y). This was a result of a double digit decline in sales in China, Indonesia, and Brazil. Sales in China plummeted far below the 10 million units mark with a 14.8% decline y/y to 9.08 million units. Sales in India, the world’s largest market, increased to slightly over 16 million units.
Sales in Indonesia in 2015 marked a significant decline of 15.9% y/y to 6.47 million units due to a sluggish economy and lower incentive for consumers to spend accompanying a weakening in the value of assets. Likewise, sales in Thailand experienced a decline for the third consecutive year in 2015, falling 1.6% y/y to 1.68 million units due to a dwindling economy and increased household debt. Even so, the decrease was slight.
In 2016 Yamaha estimates y/y growth of 1.8% to 53.6 million units (as of February 2016). However, there was a continued decline from January to June in Indonesia and Brazil, where demand was expected to increase, and global demand for motorcycles in 2016 is likely to stay shy of expectations.
Among individual markets, India is expected to register growth of 5.6% to 17 million units, which will support an overall increase in global demand. Indonesia, the third largest market, is expected to record its first increase in three years by growing 3.6% y/y to 6.7 million units. However its sales in the first half of the year declined 6.7% y/y to 2.96 million units. Demand in China is expected to remain weak with a 9.1% y/y decline to 8.25 million units forecast.
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