I.In 2021,China’s motorcycle exportgrowth fluctuated and then gradually returned to normal growth

In 2021, China’s motorcycle exports (complete vehicles) continued the growth trend of the previous year. According to China’s customs statistics, in 2021, China’s motorcycle exports totaled 119.27 million units, representing year-on-year growth of 23.0%; the export value totaled USD7.01 billion, representing year-on-year growth of 39.7%, hitting a 10-year high. Specifically, the export volume in February increased by more than 167.2% year-on-year. Due to the low base of the same period last year, the exports surged by 187.4%. In terms of he monthly trend, the growth of export volume and volume in the first half of the year basically maintained above 40%, which gradually decreased in the second half of the year. In the fourth quarter, the export volume was basically flat with the same period in 2020 (see the figure below).

II.100cc-150cc models were the main export products, and the export of 400ml-above modelsdoubled

In 2021, exports of all motorcycle types grew. Among them, 100cc-150cc models accounted for 60% to 70% of the total export volume and value. It is worth noting that both the export volume and value of models larger than 400cc doubled, and the main destination markets of these models were Italy, Argentina, Spain, France and other European countries.

III. Exports to Latin American markets were growing rapidly, with Mexico as the largest export destination

In 2021, China’s motorcycle export markets showed different characteristics: strong demand in Latin America, continuous increase in export to Africa and Europe, North America as a new growth point, and a decline in Asian market. Specifically, the export volume to Latin America exceeded that of Africa and ranked first among all continents, with 4.138 million vehicles exported, up 55.5% year-on-year and accounting for 34.7%. Africa ranked second with 3.873 million units, up 19.2% year-on-year, accounting for 32.5%. Asia ranked third, with 2.203 million units, down 11.1% year-on-year, accounting for 18.5% of the total; Exports to North America were 694,000 units, up 35.8% year-on-year, the growth rate was second only to Latin America.

Mexico, Togo and the Philippines were the top three destinations for China’s motorcycle export in 2021. Among them, the export to Mexico totaled USD734 million and 1.421 million units, which is the largest market of China’s motorcycle export. The main export products were models between 125cc and 150cc. It is noteworthy that China’s motorcycle exports to Chile increased rapidly year-on-year during the same period, by 115.3% to about 120,000 units and by 184.2% to USD92 million.

IV.China’s ATV exports hit a ten-year high, with significant growth in Europe, Asia and Latin America

In 2021, China’s ATV exports totaled 1.274 million units, up 49.1% year-on-year, and export value reached USD1.55 billion, up 100.5% year-on-year, hitting a new high in the past decade. Exports to Europe, Asia and Latin America increased by 120.4%, 162.7% and 154.7%, respectively. The United States remained the top export destination, with export value of USD436 million, up 45.7% year-on-year, aand export  volume of 386,000 units, up 15.1% year-on-year. Vietnam took the second place, with USD151 million, up 156.6% year-on-year, and 109,000 units, up 102.3% year-on-year. Among the top 15 export destinations of ATVs, Chile saw the fastest growth with 33,100 units, up 250.6% year-on-year, and Turkey saw the fastest growth in export value, with USD28 million, up 466.1% year-on-year.

V.Forecast of industry trendsin 2022

With the implementation of RCEP, the preferential tariff effect of Indonesia, Malaysia and other markets on Chinese motorcycles will gradually emerge, which will bring long-term benefits to the export of Chinese fuel and electric motorcycles, and also increase the penetration rate of electric motorcycles in Southeast Asia. In addition, the potential of motorcycle demand suppressed by the pandemic in many countries has not yet been fully unleashed; China’s large displacement motorcycle export to Europe and the United States still has great potential to tap; the tariff exemption policy for ATV export to North America may continue. It is expected that China’s motorcycle exports will stabilize and rise steadily in 2022. Moreover, a new consumer group will appear gradually, combined with the possibility in adjustment of the motorcycle forbidden policies, the Chinese domestic market will maintain a heat.