Shineray, Daytona, IGM, Ranger, Bajaj, Suzuki, Tuko, Yamaha, Motor 1 and Loncin ranked as the best-selling motorcycle brands in Ecuador in 2022, according to statistics from the Chamber of the Ecuadorian Automotive Industry (Cinae). In the country, motorcycles are the most sold compared to the total number of vehicles (cars, jeeps, trucks, heavy vehicles and others).

How does the planned purchase of a vehicle work?

“In 2022, 188,747 were sold and in 2021, when 169,843 were sold, this number exceeded 18,904 units. This represents an 11% increase in sales,” explains David Molina, Executive Director of Cinae.

The utility segment was the top seller with a market share of 53%, followed by dual purpose with a market share of 28%, according to figures from the Association of Automotive Companies of Ecuador (Aeade). According to Internal Revenue Service (SRI) data, 182,755 motorcycles were sold in Ecuador in 2022, Aeade reveals.

Growth by 2023

Genaro Baldeón, executive president of the Association of Automotive Companies of Ecuador (Aeade), indicates that motorcycle sales are expected to grow less than 5% in 2023. In January of this year, “14,154 units were sold, which means a shrinkage of -0.10% compared to January 2022, when 14,174 units were sold. This almost non-existent increase shows a trend in the motorcycle market and if it continues, it would extend into this year, so marginal growth of less than 5% is expected in this segment,” explains the manager.

The ten cheapest cars in Ecuador will cost between $12,899 and over $17,000 in 2023

Main challenges this year

Until last month, there were discussions about the regulatory reforms being promoted by the national government, through the INEN (Ecuadorian Standards Agency) and the ANT (National Transit Agency) impacting the motorcycle segment, says Baldeón.

“Last year, Motorcycle Regulation 136 was amended and updated, specifying the safety elements that motorcycles arriving in Ecuador must have: brakes, lighting equipment, tires that meet specific technical regulations, gas emissions and noise levels,” he says.

In addition, homologation of motorcycles will begin in 2024, under current regulations, which stipulate that all motorcycle importers must go through this verification process so that the units meet safety requirements before being marketed in the country.