During the last quarter of 2023 sales were slightly better than expected and the year closed on 31 199 new units, compared to a third quarter estimate of slightly over 30 000 units. This represents a decrease of 1.7% compared to 2022. Given the tough trading conditions experienced for most of 2023, this was a better than expected result. Traditional two wheeled motorcycles make up 93% of this with the rest split between quads, side by sides and tuk-tuk type three wheelers.
Segment performance remains a mixture of ups and downs. Small capacity commercial motorcycle and scooter volumes decreased by 6% which is the first decrease experienced in the last five years. Scooter sales were particularly hard hit, due to a large degree to a shift in commercial use from scooters to geared motorcycles. The leisure segment increased by 3%, with larger capacity units decreasing slightly and below 500cc units increasing by some 15%. Off-road motorcycle sales were flat year on year.
The Quad market increased by 9.5%, but this was very much driven by a new budget entrant to the market.
Electric 2 and 3 wheeled motorcycle sales experienced dramatic growth during the year expanding by 343%. Sales are essentially all commercial with very little evidence that there is interest in leisure electric motorcycles.
Used motorcycle sales recorded a decrease of 1.8% compared to 2022.
Given tough trading conditions, high interest rates and a difficult economic environment, 2023 ended better than expected. Looking ahead, 2024 will likely continue to present tough trading conditions.
Issued by Arnold Olivier, National Director, AMID
