Colombia’s motorcycle market is the third largest in Latin America, behind Brazil and Mexico. Today, almost half of the automobiles parked in Colombia are two-wheelers, with one motorcycle for each five persons. Over the past decade, the Colombian motorcycle market has experienced a dramatic change. Motorcycles are becoming an essential part of personal transportation.
A broad range of consumers are considering purchasing a motorcycle to get themselves to college, office, or work for the new and rapidly growing category of delivery-boy, who use bikes to quickly deliver everything from food to goods. Colombian domestic sales are driven by rising per capita income and a diverse choice of models available at all price points in all categories, and sales continue to rise.
The National Federation of Traders (FENALCO), and the National Association of Entrepreneurs of Colombia (ANDI), reported each month that sales of motorcycles decreased by 9 percent in November 2023 (Registered motorcycles: 54155) of 2022 compared to the same month the previous year (Registered motorcycles: 59481). In the accumulated year, they decreased 16.6 percent with 618,360 in 2023 (till November 2023), where in 2022 there were 741,633 motorcycles. The info graphs shows motorcycles sales since January 2019 till November 2023.
Explaining the graphs, Sandeep Wasnik, advisor, Latin American and Caribbean Region, says: “In 2023, the top three brands in the Colombia by unit sales are still Yamaha (10244), Bajaj (9262), and AKT (8651) units sold each, respectively. The AK125NKD EIII of AKT, with 3883 new license plates (7.2 percent), the CT100 KS Spoke of Bajaj with 2503 (4.6 percent), and the XTZ 150 Yamaha, with 2012 (3.7 percent), were the top 3 motorcycle lines (models) with the most registrations in November 2023.”
Additionally, “Yamaha, Bajaj and AKT hold market shares of 18.9 percent, 17.1 percent, and 16 percent in that same order. In comparison to November 2022 and 2023, AKT is the only company that has grown by 4.9 percent during this time, as show below info graph. In November 2023, the trend of buying new motorcycles was oriented in the 100cc to 125cc segment, with 44 percent, followed by the segment between 150cc and 200cc, which represents 22 percent of the market,” says Wasnik, who is also Director of international trade and foreign investment at Grupo 108.
The most exported motorcycles, according to engine capacity, are 50 CC to 250 CC. India exports of 50-250CC motorcycles were recorded at US$287.33 million in FY 2022-2023, followed by FY 2021-2022 (US$ 281.80 million), FY 2020-2021 (US$ 180.81 million), and FY 2019-2020 (US$ 218.21 million). The below infographics show exports of motorcycles according to engine capacity.
