Motorcycle industry in Colombia - statistics & facts
The automotive manufacturing industry in Colombia was deeply impacted by the COVID-19 pandemic, seeing its gross domestic product fall from 554 to 240 billion Colombian pesos (just under 62 million U.S. dollars, at an exchange rate of 1,000 Colombian pesos equal to 0,26 U.S. dollars as of August 27th, 2021) in the second quarter of 2020. Motorbikes were the main segment in that industry. The motorcycle fleet in Colombia in 2020 was comprised of over 9.4 million units. Representing some 59 percent of the motor vehicle fleet, motorcycles were the leading vehicle type in the country as of December of that same year. By contrast, there were around 6.4 million vehicles on Columbian roads, accounting for around 40 percent of the motor vehicle fleet.
Production and sales market changes
In 2018, the gross production value of the motorcycle industry in Colombia represented over 482 billion Colombian pesos (under 124.6 million U.S. dollars). This tied in with a motorcycle production of just under 528,000 units. Most of this production was intended for national sale, as Colombian motorcycle exports that year amounted to a volume of some 1,560 vehicles.
Apparent consumption of motorcycles reached 574,800 units in 2018. By 2020, new motorcycle registrations in Colombia had dipped to just over 518,500 vehicles, a year-on-year drop of 14.3 percent compared to the country’s 2019 sales volume. Electric motorbikes, which remain a small market in Colombia, recorded a slight slump in sales in 2020. Around 2,163 new electric motorcycles were registered in the country, a drop of 149 vehicles sold compared to 2019.
The inclusion of national and international brands in the market
Starker, owned by the Colombian motorcycle manufacturer Autoeco, was the leading electric motorcycle brand in the country in 2020. It dwarfed all other e-motorbikes brands with over 1,700 units sold. Out of the 518,500 new motorcycles registered in Colombia, the majority were from international brands. Japan-based Yamaha was the best-selling motorcycle brand, with over 105,400 vehicles, followed closely by Bajaj. Colombian brand AKT ranked fourth in the leading brands of the country.
A year earlier, in 2019, Autoeco S.A. was the leading motorcycle retailer in the country, holding almost a third of the market. It was followed by Yamaha Incolmotos and Corbeta, at around 19 and 18 percent of the market respectively.
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