Motorcycles (global market)

2024: Global motorcycle sales growth of 2.7% to 61.8 million units

In 2024, motorcycle sales globally reached 61.8 million units, a new record. This is 2.7% more than in the previous year, when about 60.2 million such vehicles were sold. The relevant data are provided in the MotorCycles Data review, which TAdviser got acquainted with at the end of May 2025.

The study talks about significant dynamics in India, where motorcycle sales in 2024 rose by 14.1%. North America saw shipments hit an all-time high, while Mexico recorded a 20.1% year-on-year increase. In Eastern Europe, sales increased by 34%, helped by strong demand in Turkey. Western Europe (including the UK) showed an increase of 7.2%. A new record was set in Latin America, where Brazil added 17.4%, Nicaragua - 43.5%, Costa Rica - 41.7%, Honduras - 28.3%, Panama - 32.6%.

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Фото: Freepik

Honda remains the leader in 2024 with 19.4 million motorcycles sold and a 32% share: the company increased sales on an annualized basis by 6%. In second place is the Indian Hero Motor with 5.9 million motorcycles shipped, which corresponds to an increase of 6.9% compared to 2023. Closes the top three Yamaha, which delivered 4.6 million motorcycles - plus 4.2% year-on-year. The list of the ten largest players in the world market also includes:

• Yadea - 4.3 million motorcycles sold; minus 13% annualized;
• TVS Motor - 3.7 million; plus 12.6%;
• Bajaj Auto - 3.1 million; plus 9.3%;
• Suzuki - 2 million; plus 6.1%;
• Italika - 1.3 million; plus 35.8%;
• Zongshen - 1 million; plus 3.4%;
• Royal Enfield - 948 thousand; plus 5.1%.

Overall, as noted, the motorcycle industry saw steady growth in 2024, with emerging markets and a diversified lineup playing a crucial role in the success of leading manufacturers.^[1]

2020: 16.6% decline in motorcycle sales, to 44.5 million units

In 2020, 44.5 million motorcycles were sold worldwide, which is 16.6% less than a year earlier. Nikkei writes about this with reference to the calculations of one of the manufacturers of such equipment Yamaha Motor.

According to the statistics provided, Honda remains the leader in the global motorcycle market, whose share at the end of 2020 amounted to 33.5%, having decreased by 3.2 percentage points compared to a year ago. The share of Hero MotoCorp following also decreased - by 0.4 percentage points, to 12.5%. Yamaha is in third position with a result of 8.5% (-0.9 percentage points on an annualized basis).

Motorcycle Market Leaders

The top 5 leading motorcycle manufacturers on a global scale also included the Indian companies Bajaj Auto and TVS Motor, which at the end of 2020 recorded 7.7% and 5.9% of sales, respectively. If the share of Bajaj Auto has not changed for the year, then TVS Motor has decreased by 0.4%. The entire five vendors control about 68% of the market under consideration.

Motorcycle sales in the world in 2020 decreased due to the COVID-19 coronavirus pandemic, in which companies, including dealerships, limited or temporarily stopped their work. In addition, consumers, faced with an economic crisis, began to spend money on the most important things.

According to the Avtostat agency, 16.4 thousand motorcycles were sold in Russia in 2020, which is 25% more than a year earlier. The leaders were brands from China, which accounted for 35% of all sales. Japanese and German motorcycles account for 14% and 13.6% of the market, respectively, Indian and American motorcycles - 11.6% and 7.6%, respectively. Top 5 most popular motorcycle brands in Russia in 2020:

• Racer - 2.3 thousand pieces (+ 46%);
• BMW - 2.2 thousand pieces (-2%);
• Bajaj - 1.8 thousand pcs (+ 31%);
• Motoland - 1.5 thousand pieces (+ 73%);
• Harley-Davidson - 1.1 thousand units (+ 19^[2]

Notes