Honda Tops Global Sales in 2023, Yamaha Highest in Malaysia
While European manufacturers such as BMW, Ducati, Triumph et al continues to announce their “record breaking” sales each year, it is still Honda who tops global sales in 2023; continuing their dominance for the last 50 years.
According to the Motorcycles Data website which collates data from 92 countries, Honda sold a total of 18.4 million motorcycles globally. The figure represents an almost 700,000 unit increase (4.3%) from 2022.
It is not such a surprising revelation, given that Honda dominates the cub and scooter segments in ASEAN markets (except for Malaysia alone). The ASEAN region consists of motorcycle-centric countries such as Indonesia, Thailand, Vietnam, Malaysia, Philippines. In fact, they have cornered almost 1/3 of the entire world’s motorcycle market.
In Number 2 was Hero Motor from India with 5.6 million motorcycles sold, an 5.4% increase. Hero’s bikes are sold not only in their native country, but also exported to several other countries.
Third in the ranking is Yamaha, who moved 4.6 million units (0.9% increase). However, their overall market share has dropped by 5% to 7.5%.
Yamaha was however Numero Uno in Malaysia, consolidated by a hefty sales figure of 652,850 units. This result is the second best ever, being just 4.0% lower than the highest record. Malaysia is still the 12th biggest market for motorcycles globally.
Continuing the list, Bajaj Auto saw 3.6 million sales (up 8.7%) due to strong domestic demand.
In fifth is TVS Motor, selling 3.4 million bikes (increase of 19.8%).
Shanghai-based Yadea sold 2.5 million electric scooters in 2023. Although they are in sixth place in this list, it is actually a 3-place drop due to a 49.7% decline in sales compared to 2022. Yadea makes premium electric scooters and is selling in Malaysia under MForce Bike Holdings.
Suzuki resurged to seventh place, with 1.9 million sales (7.1% higher).
Three Chinese manufacturers namely Haojue, Loncin, and Zhongshen round out the top 10.
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