China surpasses India to become the world's largest motorcycle market
Published Time:
2021-09-19 17:19
Source:
In 2020, China Motorcycle The market once again ranked first in the world. This positive trend continued even in the fourth quarter. Following a 12.0% increase in October, the domestic market surged 5.4% in November, with sales reaching 1.6 million units. In the first 11 months of 2020, sales reached 15.7 million units, an increase of 0.4%.
The epidemic changed the world, accelerating the economic transformation of the motorcycle industry and altering the global development trend of the motorcycle industry. After the introduction of stricter motorcycle emission and usage regulations, the Chinese motorcycle market lost its global leading position in 2016, with sales dropping by millions of units, while the Indian market rapidly grew to take the lead.
However, in 2020, India suffered heavy losses due to the rapid spread of the epidemic, with an estimated 20% loss in sales for the year, while the Chinese market, due to strict domestic epidemic control, became one of the most resilient markets globally.
After a 20% loss in the first quarter (mainly due to the epidemic), the market began to recover, with sales growth of 3.0% in the second quarter and 7.6% in the third quarter. This positive trend continued even in the fourth quarter. Following a 12.0% increase in October, November saw a surge of 5.4%, with sales reaching 1.6 million units. After the first 11 months of the year, sales reached 15.7 million units, with an overall increase of 0.4%.
In 2019, India's total number of light motorcycles, motorcycles, scooters, and three-wheeled vehicles reached 19 million units, a decrease of nearly 14% compared to the record-breaking year of 2018. The Indian motorcycle market was severely impacted in 2020, with total sales dropping to 14.8 million units (-23.3% decrease).
However, sales rebounded strongly in the fourth quarter, with a 32% increase in December, mainly due to the resilience of rural areas boosting the market share of Indian manufacturers. The data covers Electric vehicles light motorcycles, and scooters. Additionally, the data includes commercial three-wheeled vehicles, which are very popular in India.
Although India's urban markets are still struggling due to the epidemic, the relatively less affected rural and town markets have led to continuous improvement in sales, allowing the entire industry to gradually recover.
However, following a 13.2% drop in sales in 2019, the two-wheeled and three-wheeled vehicle market reported its largest ever contraction. The industry declined in the first quarter (-24.5%) and second quarter (-72.2%), followed by a rebound. In the third quarter, sales fell another 3.9%. Finally, in the fourth quarter, the market grew at double-digit rates, with year-on-year growth of 16.9% in October, 13.6% in November, and 32.5% in December. However, annual sales were 14.8 million units, down 23.3% year-on-year.
Hero MotoCorp is India's second-largest two-wheeler manufacturer, thanks to its significant share in India. In 2020, they further strengthened their competitive position, increasing their market share to 37%, while some major competitors and former partners, Honda Motorcycle and Scooter India Pvt. Ltd. (HMSI), lost their 23.8% share of the Indian market.
Other manufacturers experienced losses in 2020: Bajaj Auto (-22.4%), TVS Motor (-20.6%), Royal Enfield (-33.3%), Suzuki (-30.0%), and Yamaha (-18.6%) all showed declining sales trends. Meanwhile, the share of Japanese brands fell from 35% last year to 30.7%.
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