Mexico Motorcycle Market Share

Mexico Motorcycle Market: Growth, Trends, and Competitive Landscape

Overview

The Mexico motorcycle market is expected to experience significant growth in the coming years, with a projected volume weighted average price of US$290,000 in 2024. This growth is attributed to factors such as rising disposable incomes, increasing urbanization, and improving infrastructure in Mexico.

Market Trends

* Increasing Demand for Affordable Motorcycles: The majority of motorcycle sales in Mexico are in the lower price segments, with brands such as Italika and Vento dominating the market. * Growing Popularity of Electric Motorcycles: Electric motorcycles are gaining traction in Mexico as they offer lower operating costs and reduced emissions. * Government Initiatives: The Mexican government is encouraging the adoption of motorcycles through initiatives such as the "Hoy No Circula" program, which restricts car use on certain days based on license plate numbers.

Competitive Landscape

The Mexico motorcycle market is highly competitive, with a number of domestic and international players. Key players include: * Carabela * Italika * Honda * Yamaha * Suzuki

Carabela

Carabela is projected to have the highest market share in Mexico by 2024. The company offers a wide range of motorcycles, including scooters, mopeds, and on-road motorcycles.

Italika

Italika is the largest motorcycle manufacturer in Mexico, with a market share of over 50%. The company produces a variety of motorcycles, including entry-level models and high-performance bikes.

Honda

Honda is a global motorcycle manufacturer with a strong presence in Mexico. The company offers a wide range of models, including popular scooters and on-road motorcycles.

Yamaha

Yamaha is another major international motorcycle manufacturer with a significant market share in Mexico. The company offers a range of models, including on-road motorcycles, scooters, and off-road bikes.

Suzuki

Suzuki is a Japanese motorcycle manufacturer with a presence in Mexico. The company offers a range of motorcycles, including scooters and on-road motorcycles.

Future Outlook

The Mexico motorcycle market is expected to continue growing in the coming years, driven by favorable economic conditions and government incentives. The increasing demand for affordable and environmentally friendly motorcycles is likely to further boost market growth.