March Motorcycle Industry: Blossoming Growth, Soaring Recreation, Struggling Foreign Trade
According to the China Motorcycle Association’s statistics, the industry sustained its positive momentum in March with a significant month-on-month increase, despite a year-on-year decline. Amid China’s sustained economic recovery, sales of gasoline motorcycles have maintained growth for two consecutive months. Throughout the first quarter, recreational motorcycles with displacements over 250ml have significantly surged, providing some support for domestic motorcycle sales. However, foreign trade exports are still facing the pressure of insufficient demand, and the decline in the current month is more pronounced than the previous one.
Production and Sales Situation
In March, the industry accomplished the production and sales of 1.2614 million and 1.2615 million gasoline motorcycles, respectively, a month-on-month increase of 24.83% and 25.06%, but a year-on-year decrease of 3.3% and 0.73%. Electric motorcycles production and sales stood at 860,600 and 712,600 units, with production increasing 11.62% month-on-month, while sales declined 1.28% month-on-month, and both decreasing 1.28% and 20.32% year-on-year. The overall production and sales of motorcycles in March reached 2.122 million and 1.9741 million units, a month-on-month increase of 19.12% and 13.71%, and a year-on-year decrease of 2.49% and 8.82%.
In the first quarter, gasoline motorcycle production and sales were completed with 3.0405 million and 3.0854 million units, a year-on-year decrease of 10.92% and 10.2%; electric motorcycle production and sales were 1.842 million and 1.6651 million units, a year-on-year increase of 17.85% and 2.98%. For the first quarter, the total production and sales of motorcycles were 4.8825 million and 4.7505 million units, a year-on-year decrease of 1.88% and 5.98%.
The top ten enterprises (groups) in terms of gasoline motorcycle sales in the first quarter were Dachangjiang, Loncin, Zongshen, Sundiro-Honda, Wuyang-Honda, Dayang, Qingqi Suzuki, Tayo, Dayun, and Yinxiang. They sold 437,200, 197,000, 184,100, 166,500, 149,000, 141,200, 119,000, 114,700, 112,100, and 99,700 units, respectively.
The top ten enterprises (groups) in terms of electric motorcycle sales in the first quarter were Yadea Group, Luyuan, Tailg, Xinri, Zongshen Group, Huaihai, Bus New Energy, Jinyi, Lovol, and Loncin. They sold 980,500, 175,100, 151,300, 114,800, 83,300, 43,300, 31,300, 24,700, 11,900, and 10,200 units, respectively.
In March, motorcycle exports continued to grow month-on-month, while declining year-on-year. The drop rate expanded compared to the previous month. The single-month export volume was slightly higher than the pre-epidemic level in 2019. In the first quarter, the total export volume of motorcycles continued to decline, but the drop rate narrowed. The export volume of recreational motorcycles with displacements between 200ml and 800ml continued the growth trend of the previous month, while the export volume of the 125ml motorcycle, which accounts for the largest proportion of exports, declined significantly. Overall, the foreign trade exports of motorcycles are gradually moving in a positive direction, but the problem of insufficient orders is still prominent, exerting considerable pressure on enterprise production and operation.
In March, 668,100 motorcycles were exported, an increase of 36.56% month-on-month and a decrease of 8.78% year-on-year. The export value was $466 million, an increase of 33.91% month-on-month and a decrease of 7.81% year-on-year. Among them, two-wheel motorcycle exports were 629,600 units, an increase of 37.46% month-on-month and a decrease of 8.05% year-on-year; three-wheel motorcycle exports were 38,400 units, an increase of 23.38% month-on-year and a decrease of 19.36% year-on-year.
In the first quarter, the total export value of products by motorcycle manufacturers was $1.467 billion, a year-on-year decrease of 17.83%. The export volume of whole vehicles was 1.5889 million units, a year-on-year decrease of 20.61%, and the export value was $1.12 billion, a year-on-year decrease of 20.66%. Motorcycle engine exports were 208,700 units, a year-on-year decrease of 16.16%, and the export value was $52 million, a year-on-year decrease of 3.8%. ATV exports were 78,600 units, a year-on-year decrease of 26.56%, and the export value was $221 million, a year-on-year decrease of 7.12%. The export value of motorcycle parts was $74 million, a year-on-year decrease of 9.19%.
In the first quarter, the six leading series in terms of export volume were the 125 series, 150 series, 110 series, 200 series, 50 series, and 250 series. They exported 524,700, 396,000, 220,000, 124,500, 82,900, and 61,000 units, respectively. Compared with the same period last year, the 125 series dropped by 28.5%, the 150 series dropped by 14.33%, the 110 series dropped by 8.9%, the 200 series dropped by 17.5%, the 50 series dropped by 19.81%, and the 250 series increased by 0.66%.
In the first quarter, the top ten enterprises in terms of motorcycle export volume were: Loncin, Dachangjiang, Tayo, Zongshen, Sundiro-Honda, Sanyang, Haojin, Dayun, Tianma, and Lifan. These ten enterprises exported a total of 942,900 units, accounting for 59.34% of the total motorcycle export volume.