In 2023, sales fell by 1.82 million units (3.3%) year-on-year to 53.06 million units, the second consecutive year of year-on-year decline.

Although some African countries and some Asian and other countries include figures estimated from the number of motorcycles exported from China, India and other countries or from various media reports and economic conditions, global motorcycle sales fell to 47.37 million units in 2020 due to urban lockdowns and supply chain disruptions caused by the COVID-19 infection expansion. to 47.37 million units.

Subsequently, global sales surged to 56.58 million units in 2021, up 9.2 million units (19.4% y/y) year-on-year, due to a surge in demand for personal mobility and delivery applications, as well as large-scale renewal demand due to the introduction of new electric bicycle/motorcycle standards in China.

However, in 2022, the economic situation worsened in some emerging economies in Africa and Asia as a result of currency depreciation, inflation and rising interest rates, with Mali, Ghana and Ethiopia defaulting, as prices of resources and food soared due to Russia’s invasion of Ukraine, and the West rapidly raised interest rates in response to inflation Mali, Ghana and Ethiopia have defaulted. In addition to these conditions, large-scale renewal demand in China also declined sharply after the peak year of 2021, resulting in a second consecutive year of decline in global motorcycle sales between 2022 and 2023.

However, China’s 2023 motorcycle sales figures may be revised upwards in the future, as there is a difference of more than 2.7 million units between the number of units sold by Yadi Technology, the largest electric motorcycle manufacturer in China, as published by the China Motorcycle Chamber of Commerce, and the number in the company’s annual report.

Global motorcycle sales in 2024 are expected to increase by more than 3 million units year-on-year for the full year, bringing the market size to more than 56 million units, as India alone, the largest market, is likely to increase by nearly 2.6 million units year-on-year, and demand in major African countries is also beginning to recover.