Gogoro is struggling. Following the rapid 2015-2019 growth the market started declining in 2020 and now is struggling to be alive, with 2023 global sales at 118.866
McD tracks new vehicles registrations across the World (over 80 countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
Global Sales Trend
Following the initial fast growth reported until the 2022, the global electric scooter market is struggling and in the most of the countries, sales are declining rather than reporting the expected fast acceleration.
One of the first countries adopting EVs models was Taiwan, but as incentives were reduced the market started declining, hitting the main EVs specialist, Gogoro overall.
So, following the rapid 2015-2019 growth the market started declining in 2020 and now is struggling to be alive, with 2023 global sales at 118.866 and a 2024 projecting below the 100K.
The manufacturer doubled sales each year between 2015 and 2019, focusing activities in Taiwan, where it was supported by generous government incentives for EVs and absence of real competition in the segment.
When in 2020 the Taiwanese government decided to cut EVs incentives and competitors introduced their electric scooters in the market, Gogoro sales dropped,
Gogoro, not only have lost steam at home, but failed the internationalization, although their GoShare project was rewarded in all the World providing an immediate brand awareness.
