There was an upward trend in 2018 when the import of Motorcycles recorded nearly value of $ 504.70 Million in 2018 where 6,18,316 Units have been exported to Latin America and the Caribbean. Colombia, Argentina, Mexico, Guatemala and Peru are topmost five Countries in the LAC region that import motorcycles from India.
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Worldwide Motorcycle Exports from India is recorded at $ 1905.39 Million in 2017, out of which Latin America and the Caribbean (LAC) region has imported Motorcycles at a recorded value of $ 477.43 Million. Colombia, Argentina, Mexico, Guatemala and Peru are topmost five Countries in the region who import motorcycles from India. Their percentage of Indian motorcycle import contribution in the LAC region is shown in the figure. There was an upward trend again in 2018 when the import of Motorcycle recorded nearly value of $ 504.70 Million in 2018 where 6,18,316 Units have been exported to Latin America and the Caribbean. Motorcycle import and export market can easily be identified by its engine power which is called “Cubic Centimeter” (CC) and Motorcycle type like Sports, Cruisers, Motocross, Scooters and etc depending on the country’s infrastructure, especially the roads.
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In Latin America and the Caribbean Countries, Colombia holds 35% of Indian Motorcycle imports market and has in 2018 imported $ 198.396 Million of motorcycles from India. Indian motorcycle import trend is very clear by its engine power “CC”. Colombia's Motorcycle imports trend is between 50cc to 250cc, but not exceeding 250cc and this engine power motorcycle is the highest Indian motorcycle import in Colombia. India's top two-wheeler manufacturer and exporters, Bajaj Auto and TVS Motor are focusing on markets for their business and are regularly updating motorcycle versions and also launching new models to attract consumers. Recently TVS Motor launched three models in Peru including: TVS Apache RR 310 (312 cc), TVS NTORQ 125 (125 cc) and TVS Apache RTR 160 (160cc). Bajaj Auto is building a new factory in Lerma, in Mexico with a capacity of 50,000 units a year. Although Bajaj is ranked second in Mexico, another player Hero MotoCorp is also focusing their business towards LAC countries and have started to developed ethanol-based fuel engines to get entry in Brazil and Mexico.
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Royal Enfield (Eicher Group) is also present in the region where consumers like to buy a heavy motorcycle and more than 250cc bikes. The company already has a good presence in Colombia, Brazil and has recently entered in Argentina.
In this figure, 1st, 2nd and 3rd Quarter of 2018 show the Indian motorcycle export market trend according to engine power (cc), Motorcycle between 50cc–250cc hold 85% market, and Motorcycle between 250cc-500cc hold 12% market and Motorcycle between 500cc–800cc holds only 3%. This export trend clearly shows the consumer choice and market consumption's. Although Motorcycle between 50cc –250cc is economical to buy.
Article by Sandeep Wasnik | Latin America & the Caribbean Market Expert
