Peruvian Motorcycles Market started the 2019 with a moderate decline after the quite positive end of the 2018, the best year in this decade. Sales at February felt 1.9% mainly due to the trimotors decline. The market is stable despite the negative effect of the ISC tax, which increased duties by 10% since May 2018. While over 300 brands are fighting in the market, Honda dominates.
The start of the 2019 was moderately negative for the Two and Three wheels market in Peru. Indeed sales reported by the National Peruvian Agency for Transportations informed that in January sales were 22.698 (-3.3%) and in February 22.264 (-0.3%) with Year to Date February figures at 44.962 (-1.9%).
The two-wheeler mix on total improved at 59% (up 1 point from full year 2018).
This data follows the positive end of the 2018, when the market was reported at 284.308 units, up 2.5%, with the third growth in a row, despite of the introduction, in May 2018, of the Impuesto Selectivo al Consumo (ISC) a new tax for all new vehicles sold for private use, with a 10% due for petrol vehicles and a 20% for diesel.
There are 329 brands selling motorcycles in Peru, really an impressive number! However the market is quite concentrated in the hands of the leaders.
Honda is on top with 8.555 sales in the 2019 with 24% of market share. In second place Bajaj Auto with 6.087 sales and the solid leadership in the trimotors (-22.5%). In third place there is Chinese Zongshen with 3.540 units.
In the country near the half of two-wheeler sold are street motorbike in the range of 125-150 cc.
Peruvian motorcycles industry heritage
The motorcycles industry is a relevant sector within the Peruvian industrial production with a wide group of manufacturers active with local plant, arrived here from Japan, China, India. There is also a group of local manufacturers while all the top European brands plus Harley Davidson are represented by local distributors.
The market is one f the most relevant in South America with an annual volume stable above the 250k. This market ranks as the fifth largest in Latin America after Brazil, Mexico, Argentina and Colombia, while at Global level in the 2018 the market was 19th, just ahead of the largest European country, France.
The 2018 sales level was the highest in this decade.