Global motorcycle sales were down year-on-year in 2022, mainly due to the impact of China’s Zero Corona.
Global motorcycle sales in 2022 fell by 1.87 million units (3.3%) year-on-year to 54.77 million units, as sales in the major market countries of India and ASEAN each increased by more than 1 million units year-on-year, while sales in China fell by 2.4 million units year-on-year and sales in Africa dropped significantly by 1 million units year-on-year. In China, both sales and production fell due to the Zero Corona policy, and the shift to electric two-wheelers (EM/EV) due to stricter vehicle standards for electric bicycles (EB), which sell over 30 million units a year, has resulted in the share of electric vehicles in motorcycle sales exceeding 50 %.
By manufacturer, Honda maintains a dominant position, accounting for one third of global sales. The focus is on China’s largest EB/EM/EV manufacturer Yadea Technology Group (Yadea), which has been in the top five in global sales since 2021.Yadea has sold 8.98 million EBs and 5.03 million EM/EVs globally, and if the shift from EBs to EM/EVs continues further, it will be the world’s second largest could establish itself as the world’s second largest motorcycle manufacturer after Honda.
In 2023, demand is expected to remain sluggish in those countries due to the prolonged war between Russia and Ukraine and high global inflation, as well as currency depreciation and foreign currency shortages in emerging countries with weak economic foundations due to the impact of higher interest rates in Europe and the USA. However, global motorcycle sales are expected to recover to 56 million units, an increase of around 1.5 million units year-on-year, as sales are expected to increase in the world’s three largest motorcycle markets – India, China and Indonesia – due to the end of China’s Zero Corona policy and the easing of semiconductor shortages.