The director of Grupo Motomex noted that the public transport system in Mexico is not adequate and that per capita income limits the acquisition of automobiles. He added that the pandemic accelerated the demand for motorcycles as an accessible means of transportation, especially due to the increase in home delivery services.
The executive also mentioned that another factor contributing to this increase in demand for motorcycles has been the availability of financing. Previously, there were no financial institutions offering credit for motorcycles, but now more people can access this means of transportation.
Although Nuevo León is the home of the company, the motorcycle market at the national level represents only 1.2%, ranking 24th in sales volume. However, the motorcycle fleet in the state has experienced significant growth, increasing from 145,000 units in 2021 to 173,000 in 2023.
The states that concentrate 50% of the demand for motorcycles are the State of Mexico, Veracruz, Guanajuato, Jalisco, Michoacán, and Oaxaca, according to the company's director. He highlighted the importance of the Sofom "Te Respalda", created by Grupo Motomex, to facilitate access to motorcycles and other products of the group, with a current portfolio of 290 million pesos and more than five thousand financed motorcycles.
It is projected that the motorcycle fleet will reach 10 million units by the end of 2024, a significant increase from 1.5 million in 2012. Carlos Martínez Ábrego, deputy general director of Grupo Motomex, anticipates sales of more than two million motorcycles for this year, representing a growth of 21% compared to the previous year.
The increase in demand for motorcycles is explained by the insufficiency of public transport to meet the needs of the population and the high prices of both new and used automobiles. According to Martínez Ábrego, the motorcycle market continues to grow, and more monthly financing is expected, suggesting that the industry will continue to expand.
