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The global motorcycle industry in 2024

Motorcycle sales (including estimates) in the 111 countries worldwide increased by 0.7% (380,000 units) year-on-year to 56.24 million units in 2023.

Sales were up 1.51 million units year-on-year in India, 960,000 units in Indonesia and 540,000 units in Turkey, but remained almost at the same level as in the previous year, as sales fell by 1.07 million units in 54 African countries overall, 840,000 units in China and around 400,000 units in Pakistan and Vietnam.

In India, demand grew on the back of stable domestic demand and active private investment, in addition to a lull in inflation and rising interest rates, despite a slowdown in agricultural production due to unfavourable weather conditions. Indonesia experienced strong motorcycle sales in 2023, as oral resource prices stimulated the economy in 2022, combined with the resolution of the semi-conductor shortage. Turkey saw a 2.3-fold year-on-year surge in motorcycle sales, as COVID-19 infection expansion stimulated demand for personal mobility and a surge in new female users.

Meanwhile, the financial situation in Pakistan and African countries has deteriorated due to the spread of COVID-19 infection, soaring fuel prices and currency depreciation due to higher interest rates in Europe and the USA, with Zambia, Mali, Ghana and Ethiopia defaulting, while Kenya and Mozambique are also in excessive debt and motorcycle imports due to foreign currency shortages have been restricted.

In Vietnam, motorcycle sales fell as a result of currency depreciation, inflation, rising interest rates and a drop in exports of smartphones and other electronic equipment to Europe and the US. In China, motorcycle sales fell as a result of the large-scale renewal demand generated by the introduction of new standards for electric bicycles and electric motorcycles, which is now winding down, as well as the effects of the real estate recession, which has reduced consumer confidence.

The annual edition of the World Motorcycle Statistics is published as part of the observation of sales, production and export trends in major countries, which is necessary for a bird’s-eye view of the global motorcycle industry. 2024 edition analyses 2023 and recent market and industry trends, and forecasts the outlook for 2024, as well as overseas business amidst a shrinking domestic market. The report will also include a special feature on the business strategies of Chinese manufacturers, who are stepping up their overseas business development amidst a shrinking domestic market.