Chinese Motorcycle Declined in Production & Sales with Growth of Large-displacement Motorcycles in October
In October, domestic and foreign demand continued to reduce, and the production and sales of Chinese motorcycles were still in a downward trend. Affected by season, electric motorcycles have a more obvious quarter-on-quarter decline. Large-displacement leisure and entertainment motorcycles continued to maintain rapid growth. The market for large-displacement leisure and entertainment motorcycles still has great potential for development due to the younger generation of consumers. In short, the operation of Chinese motorcycle industry is basically stable, and compared with the early stage of the epidemic in 2019, it has declined slightly. However, the sales and production of the traditional small and medium-displacement fuel motorcycles has declined significantly in Chinese market in recent years.
Production & sales
In October, the production and sales of the whole industry were 1,108,400 units and 1,170,600 units, with a month-on-month decrease of 6.44% and 8.44%, and a year-on-year decrease of 16.18% and 20.13%. The production and sales of electric motorcycles were 498,400 units and 462,600 units, with a month-on-month decrease of 43.55% and 49.94%, and a year-on-year decrease of 31.13% and 32.06%.
From January to October, the production and sales of the whole industry were 18,206,600 units and 18,364,300 units. The production and sales decreased by 14.8% and 14.17% year-on-year.
From January to October, the top ten enterprises (groups) in sales of fuel motorcycles were Dachangjiang, Loncin, Zongshen, Sundiro-Honda, Wuyang-Honda, Luoyang Northern EK Chor, Dechengwei , Dayun, Tayo, and Qingqi Suzuki, which sold 1,615,200 units, 984,100 units, 770,400 units, 766,900 units, 586,600 units, 511,400 units, 506,200 units, 435,500 units, 380,800 units and 351,500 units, respectively.
In October, Chinese motorcycle exports has the month-on-month and year-on-year decline, but they are still at a good level judging from situations in recent years. In the face of the global economic downturn and weakening overseas demand, Chinese motorcycle exports have shown strong resilience. As Christmas approaches, motorcycle exports will take a favourable turn.
In October, motorcycle exports recorded 578,500 units, a month-on-month decrease of 6.84% and a year-on-year decrease of 23.49%. The export value was USD387 million, down by 15.29% month-on-month and 25.15% year-on-year.
From January to October, motorcycle manufacturers exported USD5.73 billion of products, down 2.5% year-on-year. The complete motorcycle export was 6,485,800 units, down 13.01% year-o-year; the export value was USD4.532billion, down 3.98% year-on-year.
From January to October, the top ten enterprises in export volume were Loncin, Dachangjiang, Zongshen, Sundiro-Honda, Tayo, Lifan, Dechengwei, Dayun, Haojin, and Sanyang Motor, with a total export volumes of 4.0641 million units, accounting for 62.66% of the total motorcycle exports.