Motorcycle sales in Bangladesh dropped to a six-year low in 2024, reflecting economic instability, inflation, and political transitions, according to industry experts.

ACI Motors reported a 2% year-on-year decline, with sales falling from 392,610 units in 2023, surpassing the downturn during the Covid-19 pandemic.

Economic pressures, rising inflation, and a US dollar crunch significantly increased motorcycle prices, noted Subrata Ranjan Das, deputy managing director of ACI Motors. Despite this, the premium motorcycle segment saw significant growth, driven by affluent buyers unaffected by economic conditions.

Hero Motorcycles emerged as a strong performer, achieving 19% growth and selling 58,189 units, securing a 14.8% market share through its affordable, fuel-efficient models. Suzuki and Yamaha also saw growth of 8% and 11%, respectively, with both brands holding a 19.3% market share, buoyed by innovative features and marketing strategies.

In contrast, Bajaj’s sales dropped by 10% to 85,696 units, reducing its market share to 21.8%. Honda experienced a minor 1% sales decline, with its market share at 15.2%, although the company claimed a 3% growth last year.

TVS Auto Bangladesh faced the steepest decline, with sales falling 35% to 29,932 units, attributed to inflation, political unrest, and restricted retail operations.