Spain 2022. In Q3 Motorcycles Sales Keep Decline Although EVs Segment Growth

Spanish Motorcycles Market is resilient to the energy crisis. However, trends deteriorated during the summer with sales down 10.7 and 3.6% respectively in July and August, with Year to Date 2022 figures at 131.041 (+4.1%) still positive thanks to the booming start if the year.

Spanish Motorcycles Industry Trend and Perspectives

In the 2022 the Spanish motorcycles market was expected to a double-digit growth driven by the demand for individual mobility, economic expansion, incentives to electric vehicles and a growing demand for evs.

These factors were expected to more than balance negative impact of growing inflation and production difficulties on raw materials purchase.

In effect, the market started very well with January and February sales up respectively 42.3% and 19.7%, before the Russian invasion of Ukraine.

In March the market fell down 6.9% ending the first quarter with 37.021 sales (+12.8%) and in April the trend unchanged, with 14.442 sales (-12.4%), shifting expectations in red-side.

However, in May the market was surprisingly positive, growing up in double-digit with 18.927 sales (+14.0%) and in June was not positive again with 20.738 sales (-2.9%), ending the first half with 99.905 sales (+7.8%), although limited by the short supply reported by several manufacturers.

The market trend deteriorated during the summer with sales down 10.7 and 3.6% respectively in July and August, with Year to Date August figures at 131.041 (+4.1%) still positive thanks to the booming start if the year.

It is sensational the Honda performance so far, with the market leader sales up 10.1% while the immediate followers, Yamaha and Piaggio performed -16.7% and -10.9% respectively.

As expected, the electric segment is fueling the scooter market with year to date sales grew up 35.0% in the L1 category (correspondent to below 50cc ICE) and the L3 category up 58.4%.

Niu was penalized by short supply in China and lost the leadership in favor to the local manufacturer Silence. Niu. DAYI is actually in second place ahead of the Italian Askoll, jumped +466% and the Australian VMoto.

The Russian war to Ukraine has changed the industry scenario, with a negative short term effect due to the “panic” effect, which is pulling people to wait before spending. In addition, the fast growing inflation will reduce the purchase power in the middle term while in the short, the huge increase of petrol is penalizing vehicles purchase shifting more rapidly than before the focus on electric vehicles.

Unfortunately, these vehicles are not available is large scale and just few models in the market have design and performance comparable with ICE models.