On October 18, 2024, the General Administration of Customs released the latest data showing that in the first three quarters of 2024, China's exports of two-wheelers (including electric vehicles and fuel-powered motorcycles) reached 21 million units, a year-on-year increase of 32%, and the export volume exceeded 18 billion US dollars, a year-on-year increase of 45%. Both the export volume and export value hit a record high in the same period in history, and domestic two-wheeler brands have become the core dominant force in the global market.
In terms of export categories, the export of electric two-wheelers performed the most prominently. In the first three quarters, the export volume reached 9.5 million units, a year-on-year increase of 58%, of which the export volume of electric motorcycles reached 3.2 million units, a year-on-year increase of 72%. The main export destinations are Southeast Asia, Europe and Africa. In the Southeast Asian market, Chinese electric motorcycles have a market share of 70% due to their high cost performance and long range advantages, far exceeding Japanese and Korean brands; in the European market, high-end intelligent models are the main focus. High-end electric motorcycles launched by brands such as Segway-Ninebot and Yadea VFLY have successfully entered mainstream markets such as Germany and France with their intelligent configurations and environmental protection advantages.
The export of fuel-powered motorcycles also performed strongly, with an export volume of 11.5 million units in the first three quarters, a year-on-year increase of 18%. Large-displacement models from domestic major manufacturers such as CF Moto, Qianjiang and Loncin are very popular in Southeast Asian and South American markets. Among them, the export volume of models above 250cc increased by 65% year-on-year, with an average price exceeding 30,000 yuan, breaking the price monopoly of imported brands.
The upgrading of export mode has become the core driving force for growth. Chinese two-wheeler enterprises have transformed from "product export" to "capacity export" and "brand export". Yadea's Thailand factory, Loncin's Brazil factory and Qianjiang's Indonesia factory are all operating at full capacity. Localized production not only reduces logistics costs, but also can quickly adapt to local market needs and enhance brand competitiveness. In addition, enterprises have increased the construction of overseas channels, laid out more than 100,000 sales outlets around the world, and provided localized after-sales services, further improving the global recognition of domestic brands.
Industry insiders analyzed that the explosion of China's two-wheeler exports is due to the superposition of technological upgrading, cost advantages and the global electrification trend. It is expected that the annual export volume will exceed 28 million units in 2024, and in the next three years, China's global market share of two-wheelers will exceed 50%, becoming the leader in the global two-wheeler industry.