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Good News! ASEAN Motorcycles Industry Recovered in 2021
ECONOMY Beyond

Good News! ASEAN Motorcycles Industry Recovered in 2021

ASEAN 2021: The recovery of the two-wheeler industry is slow, and the number of two-wheelers is still 2.5 million below the pre-Covid level.

In 2021, the ASEAN Motorcycles Industry rebounded, but at a slower pace than expected. Total sales were 12.5 million (+14.4%), and the market is still over 2.5 million below the record set in 2019. Honda is the market leader, with Yamaha in second place.

Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore, and Cambodia have data on new motorbike and scooter/moped sales, according to the Association of South Asian Nations.

Due to the rise of emerging countries such as the Philippines and Cambodia, regional sales have been steadily increasing from 2010 to 2019, hitting a record high of over 15 million yearly sales, or nearly one-fourth of the global industry.

In 2020, the pandemic's consequences were massive, with all markets decreasing for combined plants and distributor closures, and regional sales falling to 10.9 million (-26.9 percent ).

The ASEAN area is a major player in the worldwide motorbike market. For decades now, it is considered the third in terms of production and sales units behind India and China.

Indonesia, Thailand, and Vietnam lead the ASEAN market with total motorcycle sales of more than 11 million units in 2019, out of a total of 13.7 million in the area. Prior to the COVID-19 pandemic in 2019, Indonesia had 106 million motorcycles registered, Vietnam had 62 million, and Thailand had 21 million.

In 2021, the sector rebounded, though at a slower pace than expected, owing to the sluggish vaccination procedure, which resulted in another stoppage and the loss of a million vehicles in production. Total sales were 12.5 million (+14.4%), and the market is still over 2.5 million below the record set in 2019.

Looking at the single market, Indonesia has recovered 38.7% with a strong fourth quarter, the Philippines 12.8 percent, Thailand 4.2 percent, Vietnam has lost again (-4.8%), Malaysia has lost 1.6 percent, Cambodia has remained level, and Singapore has recovered 7.0 percent.

With almost 8 million sales (+14.5 percent), Honda leads the regional market, followed by Yamaha (+19.1 percent) and Suzuki (+33.2 percent). Kawasaki is ranked fourth, confirming the Japanese manufacturers' full hegemony (-0.6 percent ).

Source: motorcyclesdata.com, abeam.com

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