Motorcycle Market in Costa Rica

Honda, Yamaha, Freedom, Suzuki and Formula control more than 50% of the total market of motorcycles registered in the country.

Friday, August 19, 2016

Al December 31st, 2015  

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A study carried out by the business intelligence unit at CentralAmericaData.com on the vehicle fleet of Costa Rica shows that the number of vehicles registered each year in the country has been increasing since the fall recorded in 2009, due to the international financial crisis, and in 2015 more than 130 thousand units were registered, exceeding the historical record that stood since 2008 of about 127,000 units.

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It is expected that this trend will continue, as in the first five months of this year nearly 65,500 registered units were counted, half the total in 2015.

You may want to read: "Age of the Vehicle Fleet in Central America"

When analyzed by type of vehicle, it was found that the growth seen is related in particular to a rapid increase in the number of motorcycles registered each year. This trend is not new, it has been ten years since the number of motorcycles that are registered each year in the country started to increase. In the last decade about 35,500 motorcycles per year have been registered, while a decade earlier the average was only 7,000. However, during the years 2014 and 2015 the the historical record was a surpassed consecutively, with 48,000 and 58,000 units respectively. In addition, up until May this year figures already exceed half the total of the previous year, about 33 thousand, therefore it is expected that this trend will continue.

When analyzed by brand, it can be seen that five brands account for over 50% of the total motorcycle market in the country, these are: Honda, Yamaha, Freedom, Suzuki and Formula; in that order.

With the exception of motorcycles, none of the other types of vehicles in recent years has exceeded the number of registered units recorded in 2008. 

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