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Motorcycle market turns around: Honda and Yamaha lose ground to Shineray, Royal Enfield and Bajaj in Brazil

Written by Bruno Teles
Published 14/07/2025 às 09:22
Honda and Yamaha lose market share in motorcycles, while Shineray, Royal Enfield and Bajaj grow
Honda and Yamaha lose market share in motorcycles, while Shineray, Royal Enfield and Bajaj grow
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While Japanese giants see their dominance wane, emerging brands are experiencing explosive growth and redrawing the map of the two-wheel sector in Brazil.

The motorcycle market in Brazil is undergoing a historic transformation. Although the sector as a whole grew more than 10% in the first half of 2025, the absolute leaders, Honda and Yamaha, saw their market share shrink. In contrast, brands like Shineray, Royal Enfield, and Bajaj recorded impressive growth, capturing an ever-increasing share of consumers.

The numbers for the first half of the year, based on registration data, show that, although Honda is still the sole leader in volume, the market “pizza” is being divided among more competitors, who arrive with competitive products and aggressive strategies.

Honda and Yamaha: selling more, but losing ground

It may seem contradictory, but it's the reality. Honda actually sold more motorcycles in absolute terms in the first half of 2025 compared to 2024, but its overall market share declined.

  • Sling: The brand's share, which was over 80% in the past, fell from 70,7% to 67,6%This means that, for every 100 motorcycles sold in Brazil, almost 3 were no longer Honda compared to the previous year.
  • Yamaha: The situation of the country's second-largest brand is even more delicate. Yamaha not only saw its market share drop from 17,5% to 14,1%, but also recorded a drop of more than 11% in the number of units sold.

The rise of new forces

Motorcycle market turns around: Honda and Yamaha lose ground to Shineray, Royal Enfield and Bajaj in Brazil
Shineray SHI 175

While Japanese giants are losing steam, other brands are taking advantage of the opportunity to grow exponentially.

  • Shineray: Consolidated as the third market force, Shineray has experienced impressive growth 93,3% in sales. With a renewed product line, including 250cc models, the brand is getting closer and closer to Yamaha's numbers.
  • Royal Enfield: With a growth of almost 83%, the Indian brand secured sixth place in the ranking. The success of models like the Himalayan 450 and Super Meteor 650 demonstrates the strength of its strategy focused on an audience seeking style and belonging.
  • Bajaj: Bajaj is the biggest growth phenomenon. In its short time on the market, the brand jumped from 11th to 7th place in the rankings, with a increase of more than 221% in the number of registrations. Its market share simply tripled, proving that its models, such as the Dominar line, have become popular in Brazil.

What explains this change in the market?

YouTube video

The loss of space of Honda and Yamaha and the rise of competitors can be explained by a few factors. The new brands arrived in Brazil with good value for money products, attractive design and specific niches, like the modern classics from Royal Enfield and the powerful urban bikes from Bajaj.

This greater diversity of options is making the Brazilian consumer, previously limited to a few choices, now have a wide range much larger number of products to decide onThe motorcycle market's "pizza" hasn't shrunk, but the number of "guests" to eat it has increased, and they're hungry.

What do you think of this change? Do you think Shineray could overtake Yamaha in the coming years? Share your thoughts in the comments!

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Bruno Teles

I talk about technology, innovation, oil and gas. I provide daily updates on opportunities in the Brazilian market. I have published over 7.000 articles on the websites CPG, Naval Porto Estaleiro, Mineração Brasil and Obras Construção Civil. Any suggestions for topics? Send them to brunotelesredator@gmail.com

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