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  • 1. INDUSTRY PROFILE Motorcycles in Brazil Reference Code: 0076-0403 Publication Date: September 2010www.datamonitor.comDatamonitor USA Datamonitor Europe Datamonitor Middle East Datamonitor Asia Pacific245 Fifth Avenue 119 Farringdon Road and North America Level 46, 2 Park Street4th Floor London EC1R 3DA Datamonitor Sydney, NSW 2000New York, NY 10016 United Kingdom PO Box 24893 AustraliaUSA Dubai, UAE t: +44 20 7551 9000t: +1 212 686 7400 f: +44 20 7675 7500 t: +49 69 9754 4517 t: +61 2 8705 6900f: +1 212 686 2626 e: eurinfo@datamonitor.com f: +49 69 9754 4900 f: +61 2 8705 6901e: usinfo@datamonitor.com e: datamonitormena@ e: apinfo@datamonitor.com datamonitor.comBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 1
  • 2. EXECUTIVE SUMMARYEXECUTIVE SUMMARY Market value The Brazilian motorcycles market shrank by 22.2% in 2009 to reach a value of $6,246.6 million. Market value forecast In 2014, the Brazilian motorcycles market is forecast to have a value of $12,825 million, an increase of 105.3% since 2009. Market volume The Brazilian motorcycles market shrank by 14.7% in 2009 to reach a volume of 1,642 thousand units. Market volume forecast In 2014, the Brazilian motorcycles market is forecast to have a volume of 2,974 thousand units, an increase of 81.1% since 2009. Market segmentation I Motorcycles is the largest segment of the motorcycles market in Brazil, accounting for 98% of the markets total volume. Market segmentation II Brazil accounts for 29.4% of the Americas motorcycles market volume. Market share Honda is the leading player in the Brazilian motorcycles market, generating a 71.6% share of the markets volume. Market rivalry Recent market decline will tend to discourage new entrants to the market, but intensify rivalry between the incumbents, most of which are large multinationals.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 2
  • 3. CONTENTSTABLE OF CONTENTSEXECUTIVE SUMMARY 2MARKET OVERVIEW 7 Market definition 7 Research highlights 8 Market analysis 9MARKET VALUE 10MARKET VOLUME 11MARKET SEGMENTATION I 12MARKET SEGMENTATION II 13MARKET SHARE 14COMPETITIVE LANDSCAPE 15LEADING COMPANIES 18 Dafra Motos 18 Honda Motor Co., Ltd. 19 Suzuki Motor Corporation 23 Yamaha Motor Co., Ltd. 27MARKET FORECASTS 31 Market value forecast 31 Market volume forecast 32MACROECONOMIC INDICATORS 33APPENDIX 35 Methodology 35 Industry associations 36 Related Datamonitor research 36 Disclaimer 37ABOUT DATAMONITOR 38 Premium Reports 38 Summary Reports 38Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 3
  • 4. CONTENTS Datamonitor consulting 38Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 4
  • 5. CONTENTSLIST OF TABLESTable 1: Brazil motorcycles market value: $ million, 2005–09 10Table 2: Brazil motorcycles market volume: thousand units, 2005–09 11Table 3: Brazil motorcycles market segmentation I:% share, by volume, 2009 12Table 4: Brazil motorcycles market segmentation II: % share, by volume, 2009 13Table 5: Brazil motorcycles market share: % share, by volume, 2009 14Table 6: Dafra Motos: key facts 18Table 7: Honda Motor Co., Ltd.: key facts 19Table 8: Honda Motor Co., Ltd.: key financials ($) 21Table 9: Honda Motor Co., Ltd.: key financials (¥) 21Table 10: Honda Motor Co., Ltd.: key financial ratios 21Table 11: Suzuki Motor Corporation: key facts 23Table 12: Suzuki Motor Corporation: key financials ($) 25Table 13: Suzuki Motor Corporation: key financials (¥) 25Table 14: Suzuki Motor Corporation: key financial ratios 25Table 15: Yamaha Motor Co., Ltd.: key facts 27Table 16: Yamaha Motor Co., Ltd.: key financials ($) 28Table 17: Yamaha Motor Co., Ltd.: key financials (¥) 28Table 18: Yamaha Motor Co., Ltd.: key financial ratios 29Table 19: Brazil motorcycles market value forecast: $ million, 2009–14 31Table 20: Brazil motorcycles market volume forecast: thousand units, 2009–14 32Table 21: Brazil size of population (million), 2005–09 33Table 22: Brazil GDP (constant 2000 prices, $ billion), 2005–09 33Table 23: Brazil GDP (current prices, $ billion), 2005–09 33Table 24: Brazil inflation, 2005–09 34Table 25: Brazil consumer price index (absolute), 2005–09 34Table 26: Brazil exchange rate, 2005–09 34Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 5
  • 6. CONTENTSLIST OF FIGURESFigure 1: Brazil motorcycles market value: $ million, 2005–09 10Figure 2: Brazil motorcycles market volume: thousand units, 2005–09 11Figure 3: Brazil motorcycles market segmentation I:% share, by volume, 2009 12Figure 4: Brazil motorcycles market segmentation II: % share, by volume, 2009 13Figure 5: Brazil motorcycles market share: % share, by volume, 2009 14Figure 6: Honda Motor Co., Ltd.: revenues & profitability 22Figure 7: Honda Motor Co., Ltd.: assets & liabilities 22Figure 8: Suzuki Motor Corporation: revenues & profitability 26Figure 9: Suzuki Motor Corporation: assets & liabilities 26Figure 10: Yamaha Motor Co., Ltd.: revenues & profitability 29Figure 11: Yamaha Motor Co., Ltd.: assets & liabilities 30Figure 12: Brazil motorcycles market value forecast: $ million, 2009–14 31Figure 13: Brazil motorcycles market volume forecast: thousand units, 2009–14 32Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 6
  • 7. MARKET OVERVIEWMARKET OVERVIEWMarket definition The motorcycles market consists of all classes of on- and off-road motorcycles including scooters and mopeds. Mopeds are powered two-wheeler vehicles with engine capacity of less than 50 cc, generally also equipped for non-motorized propulsion and with restricted maximum speed. For the purposes of this profile, all powered two-wheelers other than mopeds are classed as motorcycles. (The term scooter refers to a two-wheeler of any capacity that has its engine as part of the rear suspension, and/or has a step-through chassis, thus depending on its engine capacity a scooter may fall into either moped or motorcycle category although for the purposes of this profile it has been included in the motorcycle category). Volumes reflect the number of new motorcycles sold each year. The market value is assessed at manufacturers list price. All currency conversions are carried out at constant average annual 2009 exchange rates For the purposes of this report, the Americas consists of North America and South America. North America consists of Canada, Mexico, and the United States. South America comprises Argentina, Brazil, Chile, Colombia, and Venezuela.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 7
  • 8. MARKET OVERVIEWResearch highlights The Brazilian motorcycles market had total revenue of $6.2 billion in 2009, representing a compound annual growth rate (CAGR) of 16.8% for the period spanning 2005-2009. Market consumption volumes increased with a CAGR of 12.3% between 2005-2009, to reach a total of 1.6 million units in 2009. The performance of the market is forecast to decelerate, with an anticipated CAGR of 15.5% for the five- year period 2009-2014, which is expected to drive the market to a value of $12.8 billion by the end of 2014.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 8
  • 9. MARKET OVERVIEWMarket analysis After a period of strong growth, steep decline occurred in both values and volumes of the Brazilian motorcycles market. Recovery is expected in the coming year and the market set to post double digit growth again towards 2014. The Brazilian motorcycles market had total revenue of $6.2 billion in 2009, representing a compound annual growth rate (CAGR) of 16.8% for the period spanning 2005-2009. In comparison, the US and Canadian markets declined with compound annual rates of change (CARCs) of -4.7% and -4% respectively, over the same period, to reach respective values of $8.1 billion and $692.7 million in 2009. Market consumption volumes increased with a CAGR of 12.3% between 2005-2009, to reach a total of 1.6 million units in 2009. The markets volume is expected to rise to 3 million units by the end of 2014, representing a CAGR of 12.6% for the 2009-2014 period. Motorcycles sales had the highest volume in the Brazilian motorcycles market in 2009, with total sales of 1.6 million units, equivalent to 98% of the markets overall volume. In comparison, sales of mopeds had a volume of 32.8 thousand units in 2009, equating to 2% of the market total. The performance of the market is forecast to decelerate, with an anticipated CAGR of 15.5% for the five- year period 2009-2014, which is expected to drive the market to a value of $12.8 billion by the end of 2014. Comparatively, the US and Canadian markets will grow with CAGRs of 3.4% and 1.1% respectively, over the same period, to reach respective values of $9.6 billion and $729.9 million in 2014.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 9
  • 10. MARKET VALUEMARKET VALUE The Brazilian motorcycles market shrank by 22.2% in 2009 to reach a value of $6,246.6 million. The compound annual growth rate of the market in the period 2005–09 was 16.8%. Table 1: Brazil motorcycles market value: $ million, 2005–09 Year $ million BRL million € million % Growth 2005 3,357.4 6,743.2 2,414.5 2006 4,539.3 9,117.1 3,264.5 35.2% 2007 6,024.3 12,099.5 4,332.4 32.7% 2008 8,025.8 16,119.7 5,771.9 33.2% 2009 6,246.6 12,546.1 4,492.3 (22.2%) CAGR: 2005–09 16.8% Source: Datamonitor DATAMONITOR Figure 1: Brazil motorcycles market value: $ million, 2005–09 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 10
  • 11. MARKET VOLUMEMARKET VOLUME The Brazilian motorcycles market shrank by 14.7% in 2009 to reach a volume of 1,642 thousand units. The compound annual growth rate of the market in the period 2005–09 was 12.3%. Table 2: Brazil motorcycles market volume: thousand units, 2005–09 Year thousand units % Growth 2005 1,032.3 2006 1,307.5 26.7% 2007 1,694.5 29.6% 2008 1,925.6 13.6% 2009 1,642.0 (14.7%) CAGR: 2005–09 12.3% Source: Datamonitor DATAMONITOR Figure 2: Brazil motorcycles market volume: thousand units, 2005–09 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 11
  • 12. MARKET SEGMENTATION IMARKET SEGMENTATION I Motorcycles is the largest segment of the motorcycles market in Brazil, accounting for 98% of the markets total volume. The mopeds segment accounts for the remaining 2% of the market. Table 3: Brazil motorcycles market segmentation I:% share, by volume, 2009 Category % Share Motorcycles 98.0% Mopeds 2.0% Total 100% Source: Datamonitor DATAMONITOR Figure 3: Brazil motorcycles market segmentation I:% share, by volume, 2009 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 12
  • 13. MARKET SEGMENTATION IIMARKET SEGMENTATION II Brazil accounts for 29.4% of the Americas motorcycles market volume. The United States accounts for a further 38.1% of the Americas market. Table 4: Brazil motorcycles market segmentation II: % share, by volume, 2009 Category % Share United States 38.1% Brazil 29.4% Mexico 6.2% Canada 3.3% Rest of the Americas 23.1% Total 100% Source: Datamonitor DATAMONITOR Figure 4: Brazil motorcycles market segmentation II: % share, by volume, 2009 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 13
  • 14. MARKET SHAREMARKET SHARE Honda is the leading player in the Brazilian motorcycles market, generating a 71.6% share of the markets volume. Yamaha Motor Co Ltd accounts for a further 11.9% of the market. Table 5: Brazil motorcycles market share: % share, by volume, 2009 Company % Share Honda 71.6% Yamaha Motor Co Ltd 11.9% Suzuki Motor Corporation 5.0% Dafra Motos 4.0% Other 7.5% Total 100% Source: Datamonitor DATAMONITOR Figure 5: Brazil motorcycles market share: % share, by volume, 2009 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 14
  • 15. COMPETITIVE LANDSCAPECOMPETITIVE LANDSCAPE The motorcycles market will be analyzed taking motorcycle manufacturers as players. The key buyers will be taken as motorcycle dealers, and manufacturers of raw materials and components as the key suppliers. Recent market decline will tend to discourage new entrants to the market, but intensify rivalry between the incumbents, most of which are large multinationals. Buyer power is weakened by high level of product differentiation and customer loyalty with respect to dominating brands. Amongst the suppliers there are providers of commodity items such as metals, and their power is boosted due to their large size, consolidation of the industry and the fact that motorcycle manufacturers account for only a small fracture of their revenues. For new entrants to the market, setting up a production facility involves large capital outlay thus constituting significant entry barrier and high fixed cost. Furthermore the global tightening of emission standards is ramping up costs further as motorcycle re-designs are required. Such a trend can trigger the demand for newer, more economical engines, involving higher costs of R&D spending. Other means of transportation constitute the main substitutes within the market, and the threat of substitution is largely dependent upon the necessity of motorcycle use to the end-user. Due to high population density and relatively low average income, motorcycles and scooters may form a necessary means of transport in some regions of Brazil. The rivalry is boosted by the presence of large, international incumbents: together the top four companies account for approximately 93% of the market’s share by volume, meaning the market is concentrated. Motorcycle dealers within Brazil are typically franchised to the leading manufacturers, which reduces their independence and therefore buyer power. The leading Brazilian players Honda, Yamaha, Suzuki and Brasil & Movimento (manufacturer of Sundown Brand), account for approximately 93% of the market with respect to sales volume (with Honda alone holding c.a. 70%). This fact means that buyers within the Brazilian market face a relatively high concentration of players, indicating a lower level of choice. The high level of product differentiation weakens buyer power furthermore. It is also rather unusual for motorcycle dealers to integrate backwards into the manufacturers’ area due to the different nature of the business. These factors weaken the buyer power, which is assessed as moderate within the Brazilian motorcycle market. Key inputs for a motorcycle manufacturer include aluminum and steel sheet, bar, castings, and forgings, and also finished components such as fuel injection systems, seats, batteries, and tires, that it is more cost-effective to source from specialist manufacturers than to produce in-house. Amongst the providers, there are large, multi-nationals with a strong presence within the global markets which boosts their power. To ensure timely delivery of such materials, market players often sign contracts with their providers, thus strengthening their power. The high importance of the raw materials to the manufacturers of motorcycles can enhance supplier power furthermore. To ensure timely delivery of such materials, market players often sign contracts with their providers, thus strengthening their power.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 15
  • 16. COMPETITIVE LANDSCAPE Typical suppliers are also likely to sell to a wide variety of manufacturing companies, with the motorcycles market only a minor component of their revenues, which strengthens suppliers position. However, with minimal differentiation of raw materials there is little to distinguish between suppliers and manufacturers have low switching costs thus lowering the supplier power to some extent. Overall, supplier power within this market is moderate. Entry to the Brazilian motorcycles market can be achieved by starting a new company, diversifying an existing company’s operations into motorcycles manufacturing or in case of foreign companies by beginning to export to the country. Newcomers are lured by a strong market growth promising a fair share of revenues. However, setting up a production facilities involves large capital outlay thus constituting significant entry barrier and high fixed costs. Additionally, leading motorcycle brands such as Honda, Yamaha, Suzuki or local Brasil & Movimento, enjoy an exceptionally high level of brand recognition, which is reflected in their high sales volumes and market dominance. Due to the existing strength of premium motorcycle brands it is difficult for new entrants to introduce their products into the market. However, sales are sensitive to price and it is possible for manufacturers to enter markets through the sale of budget vehicles. Furthermore the global tightening of emission standards is ramping up costs further as motorcycle re-designs are required. Such a trend can trigger the demand for newer, more economical engines, involving higher costs of R&D spending. Overall, the threat of new entrants with respect to the Brazilian motorcycles market is moderate. Substitutes to the motorcycles market consist of other types of vehicles or means of transport. The threat of substitution with respect to the motorcycles market is dependent upon the necessity of motorcycle use to the end-user. In more developed areas motorcycles are seen as a luxury, rather than a car substitute, for example. They are more often used for leisure purposes than for commuting and in times of economic uncertainty demand will fall. In this case, the threat from substitutes is higher, as consumers are more likely to continue using other vehicles or public transport, than purchase a motorcycle which may be viewed as a luxury rather than a necessity. In less developed regions motorcycles are often purchased as a car substitute, as they are cheaper to buy and run. Many end-users use motorcycles as their main form of transport, due to the high population density and relatively low average income in these countries. Motorcycles are also more suitable where a poorly developed road infrastructure may make use of larger vehicles problematic. This decreases the threat from substitutes as motorcycles are often a cheaper and more beneficial option for consumers. Another alternative threatening motorcycle manufacturers is offered by used motorcycles. These may be sold privately, or by dealers that also offer new motorcycles, and will almost always be cheaper than a new vehicle of similar specification. The Brazilian motorcycles market is concentrated, with top four players – namely Honda, Yamaha, Suzuki and Dafra holding about 93% of the market share by volume. Presence of such large multi-national companies, with exceptionally high assets, boosts the degree of rivalry; on the other hand, less players means less competitors for a share of market’s revenues.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 16
  • 17. COMPETITIVE LANDSCAPE Additionally, fixed cost and exit barriers are of significant meaning within this market and leaving it requires substantial divestment of highly specific assets. These factors enhance the rivalry. Most of the players try to diversify their business models through geographical expansion or have interests in a variety of industries manufacturing a range of goods including automobiles, watercraft, and industrial and farming machinery. Honda group for example, except form the geographical spread, diversifies its revenue streams by serving a number of end markets, including automobile business, motorcycle business, power products and financial services. Such diversification reduces the dependence upon the motorcycle market and eases rivalry therein. The Brazilian motorcycle market is currently exhibiting a decline although a recovery to a high, double digit level of growth is expected from 2010. This provides ample revenue growth for companies, thus reducing rivalry. There are also concerns regarding future demand due to the aging of the customers. Overall, rivalry within the Brazilian motorcycles market is assessed as moderate.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 17
  • 18. LEADING COMPANIESLEADING COMPANIESDafra Motos Table 6: Dafra Motos: key facts Website: www.daframotos.com.br Source: company website DATAMONITOR Founded in 2007, Dafra Motos is the newest national brand of motorcycles. Dafra Motos aims to revolutionize the market and become one of the largest motorcycle manufacturers in the country operating under their distinctive trademark “made by Brazilians for Brazilians”. Dafra Motos meets demand through initially focusing its production on four models designed for the tastes of Brazilians: the Super 100 cc and the Speed 150 cc, street bikes, the Laser 150 cc scooter, Kansas 150 cc and customized motorcycles. Dafra Motors operates in Manaus, Brazil, with the support of a strong network of technical assistants and authorized Defra dealerships across the country. Key Metrics Company financials are unavailable.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 18
  • 19. LEADING COMPANIESHonda Motor Co., Ltd. Table 7: Honda Motor Co., Ltd.: key facts Head office: 1-1, 2-chome Minami-Aoyama Minato-ku Tokyo 107-8556 JPN Telephone: 81 3 3423 1111 Fax: 81 3 5412 1515 Website: world.honda.com Financial year-end: March Ticker: HMC Stock exchange: New York Source: company website DATAMONITOR Honda Motor (Honda) is one of the leading manufacturers of automobiles and the largest manufacturer of motorcycles in the world. The company also provides a range of financial services to its customers and dealers. The company has a total of 396 subsidiaries and 105 affiliates all over the world. The company operates across four business divisions: automobile, motorcycle, financial services, power products and others. The automobiles business division manufactures passenger cars, multi-wagons, minivans, sport utility vehicle, sports coupe, and mini vehicles. Hondas automobiles use gasoline engines of three, four or six- cylinder power, diesel engines, and gasoline-electric hybrid systems. The company also offers alternative fuel-powered vehicles such as natural gas, ethanol, and fuel cell vehicles. The companys popular passenger car models include Legend, Accord, Inspire, Civic, Insight, City, Acura RL, Acura TL, Acura TSX, and Acura CSX. In the multi-wagons, minivans, sport utility vehicle, and sports coupe segments, the popular models include Elysion, Odyssey, Step Wagon, Stream, FREED, Edix/FR- V, Airwave, Fit/Jazz, Partner Pilot, Ridgeline, CR-V, Element, Crossroad, S2000, Acura MDX, and Acura RDX. The mini cars are marketed under Life, Zest, Vamos, and Acty models. Honda manufactures its automobiles at two sites in Japan: the Saitama factory and the Suzuka factory. The companys other major production sites are located in the US (Ohio, Alabama, and Indiana), Canada (Ontario), UK (Swindon), Thailand (Ayutthaya) India (Uttar Pradesh), and Brazil (Sao Paulo). Yachiyo Industry Co, one of the companys consolidated subsidiaries, assembles Mini cars for the Japanese domestic market. In FY2009, the company recorded total sales of 3,517,000 units of automobiles, as compared to the unit sales of 3,925,000 in FY2008. This represents a decrease of 10.4% compared to FY2008.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 19
  • 20. LEADING COMPANIES Out of the total sales, the company sold 556,000 in Japan; 1,496,000 in North America; 350,000 in Europe; 793,000 in Asia; and remaining 322,000 in other regions. The motorcycle business division produces a range of motorcycles, from the 50 cc class to the 1800 cc class cylinder displacement. Hondas motorcycle line consists of scooters, electric-motor-assisted bicycles, sports bikes, and large touring cycles. The motorcycles use gasoline engines developed by the company that are air or water cooled, two or four cycled, and single, two, four, or six cylinder powered. Hondas motorcycles are produced at the Kumamoto factory in Japan. The company also produces its motorcycles through its subsidiaries in Italy, Spain, Thailand, Vietnam, the Philippines, India, Brazil, and Argentina. In FY2009, the company recorded total sales of 10,114,000 units of motorcycles, as compared to the unit sales of 9,320,000 in FY2008. This represents an increase of 8.5% over FY2008. Out of the total sales, the company sold 232,000 in Japan; 320,000 in North America; 276,000 in Europe; 7,523,000 in Asia; and remaining 1,763,000 in other regions. With an aim of providing sales support for its products, Honda offers a variety of financial services to its customers and dealers through finance subsidiaries in countries including Japan, the US, Canada, the UK, Germany, Brazil, and Thailand. The services of these subsidiaries include retail lending, leasing to customers, and other financial services, such as wholesale financing to dealers. Hondas power products and other businesses division manufactures a range of power products including power tillers, portable generators, general purpose engines, grass cutters, outboard marine engines, water pumps, snow throwers, power carriers, power sprayers, lawn mowers, and lawn tractors (riding lawn mowers). Honda also manufactures the major components and parts used in its products, including engines, frames, and transmissions. The company also makes engines for light business jets as well as automobile fuel cells. Honda also manufactures ASIMO (humanoid robots), which can offer many useful functions such as greeting visitors and informing personnel of the visitors arrival by transmitting messages and pictures of the visitors face, and guide visitors to a predetermined location. Key Metrics The company recorded revenues of $106,939 million in the fiscal year ending March 2009, a decrease of 16.6% compared to fiscal 2008. Its net income was $1,463 million in fiscal 2009, compared to a net income of $6,410 million in the preceding year.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 20
  • 21. LEADING COMPANIES Table 8: Honda Motor Co., Ltd.: key financials ($) $ million 2005 2006 2007 2008 2009 Revenues 92,399.1 105,835.8 118,430.8 128,212.5 106,938.6 Net income (loss) 5,193.5 6,377.1 6,326.9 6,409.5 1,463.5 Total assets 99,521.8 112,924.3 128,572.1 134,757.4 126,247.9 Total liabilities 64,387.0 68,854.2 80,689.6 84,701.5 82,128.2 Employees 137,827 144,785 167,231 178,960 181,876 Source: company filings DATAMONITOR Table 9: Honda Motor Co., Ltd.: key financials (¥) ¥ million 2005 2006 2007 2008 2009 Revenues 8,650,100.0 9,908,000.0 11,087,100.0 12,002,834.0 10,011,241.0 Net income (loss) 486,200.0 597,000.0 592,300.0 600,039.0 137,005.0 Total assets 9,316,900.0 10,571,600.0 12,036,500.0 12,615,543.0 11,818,917.0 Total liabilities 6,027,700.0 6,445,900.0 7,553,900.0 7,929,472.0 7,688,573.0 Source: company filings DATAMONITOR Table 10: Honda Motor Co., Ltd.: key financial ratios Ratio 2005 2006 2007 2008 2009 Profit margin 5.6% 6.0% 5.3% 5.0% 1.4% Revenue growth 6.0% 14.5% 11.9% 8.3% (16.6%) Asset growth 11.9% 13.5% 13.9% 4.8% (6.3%) Liabilities growth 10.5% 6.9% 17.2% 5.0% (3.0%) Debt/asset ratio 64.7% 61.0% 62.8% 62.9% 65.1% Return on assets 5.5% 6.0% 5.2% 4.9% 1.1% Revenue per employee $670,399 $730,986 $708,187 $716,431 $587,975 Profit per employee $37,681 $44,045 $37,833 $35,815 $8,047 Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 21
  • 22. LEADING COMPANIES Figure 6: Honda Motor Co., Ltd.: revenues & profitability Source: company filings DATAMONITOR Figure 7: Honda Motor Co., Ltd.: assets & liabilities Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 22
  • 23. LEADING COMPANIESSuzuki Motor Corporation Table 11: Suzuki Motor Corporation: key facts Head office: 300 Takatsuka-cho Minami ku Hamamatsu City 432 8611, JPN Telephone: 81 53 4402904 Website: www.globalsuzuki.com Financial year-end: March Ticker: 7269 Stock exchange: Tokyo Source: company website DATAMONITOR Suzuki Motor (Suzuki) designs and manufactures passenger cars, commercial vehicles, motorcycles, all terrain vehicles (ATVs), outboard motors, and other products. The company also develops businesses of logistics and other services related to the respective operations. It promotes technical co-operation through numerous joint ventures overseas. Suzuki operates in 193 countries, and its main production facilities are located in 23 countries and areas worldwide. The company has 141 subsidiaries and 37 affiliate companies. The company operates through four business segments: automobile, motorcycle, marine and power products, and financial services. The automobile segment manufactures sports utility vehicles, minicars, and premium and luxury cars. Suzukis brands in the automobile segment comprises of Swift, SX4 (sports crossover vehicle), Splash, Grand Vitara, Jimny, Alto/CERELIO, APV, and Kizashi. The company manufactures its automobiles through its subsidiaries, Magyar Suzuki, Maruti Suzuki India, and through an affiliate, CAMI Automotive. The automobile parts are manufactured by Suzuki Hamamatsu Auto Parts Mfg. and others. The marketing of automobiles is carried out by its subsidiaries, Suzuki Motor Sales Kinki, Japan; American Suzuki Motor, the US; and other marketing companies. The company also offers various logistics services through its subsidiary, Suzuki Transportation & Packing. In FY2009, the companys worldwide automobile production was 2,494,000 units, and its global sales were 2,306,000 units. The motorcycle segment manufactures motorcycles, scooters, ATVs, and motorsports. Suzukis brands in the motorcycles segment comprises of Lets4 and Lets5 scooters, Gemma, GSR400/ABS, Gladius, Bandit 650, GSXR1000, Suzuki Boulevard M90 cruiser and the KINGQUAD 750AXi 4x4 ATV.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 23
  • 24. LEADING COMPANIES Motorcycles are manufactured by the company and its subsidiary, Thai Suzuki Motor, and an affiliate, Jinan Qingqi Suzuki Motorcycle. The motorcycle parts are manufactured by the companys subsidiary, Suzuki Toyama Auto Parts, Japan and others. The motorcycle parts manufactured by Suzukis subsidiaries are purchased by the company itself. The company conducts the marketing of the motorcycles in the domestic market through a subsidiary, Suzuki Motorcycle Sales (Higashi Nihon) and other marketing companies. In overseas markets, the marketing of motorcycles is conducted through a subsidiary, Suzuki International Europe, Germany and other marketing companies. In FY2009, the companys worldwide motorcycle production was 3,295,000 units, and its global sales were 3,351,000 units. The marine and power products segment manufacture outboard motors, motorized wheelchairs and electro senior vehicles. Outboard motors are manufactured mainly by the company and are marketed by its subsidiary, Suzuki Marine, Japan and others. In the domestic market, Suzuki markets its motorized wheelchairs and electro senior vehicles through its subsidiaries such as Suzuki Motor Sales Kinki and others, and the marketing of houses is conducted by a subsidiary, Suzuki Business. The financial services segment of the company is conducted by a subsidiary, Suzuki Finance, and others. In addition, Suzuki has been engaged in various business opportunities with other car manufacturers worldwide. For instance, the company works together with General Motors to generate synergies by utilizing and complementing resources in various areas, including advanced technologies, CAMI project, power trains, and global joint purchasing, mutual supply of vehicles, etc. Further, Suzuki also supplies Mazdas mini-cars in Japan, and it has cross-OEM relationship with Nissan. Key Metrics The company recorded revenues of $32,098 million in the fiscal year ending March 2009, a decrease of 14.2% compared to fiscal 2008. Its net income was $293 million in fiscal 2009, compared to a net income of $857 million in the preceding year.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 24
  • 25. LEADING COMPANIES Table 12: Suzuki Motor Corporation: key financials ($) $ million 2005 2006 2007 2008 2009 Revenues 25,268.7 29,337.2 33,793.8 37,412.3 32,097.8 Net income (loss) 646.3 704.4 801.2 857.3 293.0 Total assets 18,088.1 19,758.4 24,797.3 25,734.3 23,049.8 Total liabilities 8,803.1 12,170.7 15,653.9 16,089.8 15,114.1 Source: company filings DATAMONITOR Table 13: Suzuki Motor Corporation: key financials (¥) ¥ million 2005 2006 2007 2008 2009 Revenues 2,365,571.0 2,746,453.0 3,163,669.0 3,502,419.0 3,004,888.0 Net income (loss) 60,506.0 65,945.0 75,008.0 80,254.0 27,429.0 Total assets 1,693,353.0 1,849,714.0 2,321,441.0 2,409,165.0 2,157,849.0 Total liabilities 824,122.0 1,139,381.0 1,465,468.0 1,506,270.0 1,414,934.0 Source: company filings DATAMONITOR Table 14: Suzuki Motor Corporation: key financial ratios Ratio 2005 2006 2007 2008 2009 Profit margin 2.6% 2.4% 2.4% 2.3% 0.9% Revenue growth 7.6% 16.1% 15.2% 10.7% (14.2%) Asset growth 7.3% 9.2% 25.5% 3.8% (10.4%) Liabilities growth (5.9%) 38.3% 28.6% 2.8% (6.1%) Debt/asset ratio 48.7% 61.6% 63.1% 62.5% 65.6% Return on assets 3.7% 3.7% 3.6% 3.4% 1.2% Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 25
  • 26. LEADING COMPANIES Figure 8: Suzuki Motor Corporation: revenues & profitability Source: company filings DATAMONITOR Figure 9: Suzuki Motor Corporation: assets & liabilities Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 26
  • 27. LEADING COMPANIESYamaha Motor Co., Ltd. Table 15: Yamaha Motor Co., Ltd.: key facts Head office: 2500 Shingai Iwata Shizuoka ken 438 8501, JPN Telephone: 81 538 32 1103 Fax: 81 538 37 4252 Website: www.yamaha-motor.co.jp Financial year-end: December Ticker: 7272 Stock exchange: Tokyo Source: company website DATAMONITOR Yamaha Motor is a Japan based manufacturing company which manufactures and sells motorized products. It operates about 60 factories in 35 countries globally. The company operates through its subsidiaries throughout Japan, Europe, North America, and Asia. The company operates through four segments: motorcycles, marine, power products and others. The motorcycles segment is engaged in the manufacture and sale of motorcycles, scooters and other two-wheel products for the individual customers. The company provides sports bikes, trail bikes, road racers, motocrossers and others. The marine segment is engaged in the manufacture and sale of outboard motors, personal watercrafts, electric marine motors, stern drives, pleasure-use boats, fiberglass reinforced plastic pools, fishing boats, utility boats and diesel engines. The power products segment offers side-by-side vehicles, golf cars, generators, small sized snow throwers, multi-purpose engines, snowmobiles and all terrain vehicles. The others segment offers surface mounters, individual robots, automotive engines, automotive components, electro power assisted bicycles, unmanned industrial helicopters, electrically powered wheelchairs and the intermediate parts. Yamaha also manufactures golf carts and go karts, helmets, electrical power units for wheelchairs, air conditioning units and realistic paper craft models of some of its products. The company carries out research and development in all product areas and is involved in the management of leisure and recreational facilities and related services. The company also focuses on the biotechnological production, processing, sales of agricultural and marine products; and microorganisms.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 27
  • 28. LEADING COMPANIES The companys subsidiaries include: Yamaha Motorcycle Sales Japan, Yamaha Marine, Yamaha Motor Europe, Yamaha Motor Powered Products, Yamaha Indonesia Motor Manufacturing, Yamaha Motor Electronics, Thai Yamaha Motor, Yamaha Motor Corporation, U.S.A., Yamaha Motor Vietnam, Yamaha Motor Taiwan, and others. Key Metrics The company recorded revenues of $12,323 million in the fiscal year ending December 2009, a decrease of 28.1% compared to fiscal 2008. Its net loss was $2,309 million in fiscal 2009, compared to a net income of $20 million in the preceding year. Table 16: Yamaha Motor Co., Ltd.: key financials ($) $ million 2005 2006 2007 2008 2009 Revenues 14,687.5 16,899.2 18,764.9 17,132.4 12,323.0 Net income (loss) 683.6 824.6 760.8 19.8 (2,308.9) Total assets 10,238.6 12,056.6 13,442.4 12,424.6 10,543.8 Total liabilities 5,874.0 6,704.3 7,362.0 7,847.9 7,881.2 Employees 39,381 41,958 46,850 49,771 49,994 Source: company filings DATAMONITOR Table 17: Yamaha Motor Co., Ltd.: key financials (¥) ¥ million 2005 2006 2007 2008 2009 Revenues 1,375,000.0 1,582,046.0 1,756,707.0 1,603,881.0 1,153,642.0 Net income (loss) 64,000.0 77,200.0 71,222.0 1,851.0 (216,148.0) Total assets 958,500.0 1,128,700.0 1,258,430.0 1,163,153.0 987,077.0 Total liabilities 549,900.0 627,633.0 689,209.0 734,690.0 737,810.0 Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 28
  • 29. LEADING COMPANIES Table 18: Yamaha Motor Co., Ltd.: key financial ratios Ratio 2005 2006 2007 2008 2009 Profit margin 4.7% 4.9% 4.1% 0.1% (18.7%) Revenue growth 35.9% 15.1% 11.0% (8.7%) (28.1%) Asset growth 24.9% 17.8% 11.5% (7.6%) (15.1%) Liabilities growth 21.1% 14.1% 9.8% 6.6% 0.4% Debt/asset ratio 57.4% 55.6% 54.8% 63.2% 74.7% Return on assets 7.4% 7.4% 6.0% 0.2% (20.1%) Revenue per employee $372,960 $402,764 $400,531 $344,225 $246,490 Profit per employee $17,360 $19,654 $16,239 $397 ($46,183) Source: company filings DATAMONITOR Figure 10: Yamaha Motor Co., Ltd.: revenues & profitability Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 29
  • 30. LEADING COMPANIES Figure 11: Yamaha Motor Co., Ltd.: assets & liabilities Source: company filings DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 30
  • 31. MARKET FORECASTSMARKET FORECASTSMarket value forecast In 2014, the Brazilian motorcycles market is forecast to have a value of $12,825 million, an increase of 105.3% since 2009. The compound annual growth rate of the market in the period 2009–14 is predicted to be 15.5%. Table 19: Brazil motorcycles market value forecast: $ million, 2009–14 Year $ million BRL million € million % Growth 2009 6,246.6 12,546.1 4,492.3 (22.2%) 2010 7,067.6 14,195.0 5,082.7 13.1% 2011 9,099.2 18,275.5 6,543.8 28.7% 2012 10,249.9 20,586.6 7,371.3 12.6% 2013 11,491.4 23,080.2 8,264.2 12.1% 2014 12,825.0 25,758.5 9,223.2 11.6% CAGR: 2009–14 15.5% Source: Datamonitor DATAMONITOR Figure 12: Brazil motorcycles market value forecast: $ million, 2009–14 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 31
  • 32. MARKET FORECASTSMarket volume forecast In 2014, the Brazilian motorcycles market is forecast to have a volume of 2,974 thousand units, an increase of 81.1% since 2009. The compound annual growth rate of the market in the period 2009–14 is predicted to be 12.6%. Table 20: Brazil motorcycles market volume forecast: thousand units, 2009–14 Year thousand units % Growth 2009 1,642.0 (14.7%) 2010 1,808.3 10.1% 2011 2,219.6 22.8% 2012 2,452.6 10.5% 2013 2,704.0 10.2% 2014 2,974.0 10.0% CAGR: 2009–14 12.6% Source: Datamonitor DATAMONITOR Figure 13: Brazil motorcycles market volume forecast: thousand units, 2009–14 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 32
  • 33. MACROECONOMIC INDICATORSMACROECONOMIC INDICATORS Table 21: Brazil size of population (million), 2005–09 Year Population (million) % Growth 2005 189.0 1.3% 2006 191.5 1.3% 2007 193.9 1.3% 2008 196.3 1.2% 2009 198.7 1.2% Source: Datamonitor DATAMONITOR Table 22: Brazil GDP (constant 2000 prices, $ billion), 2005–09 Year Constant 2000 Prices, $ billion % Growth 2005 738.6 3.1% 2006 767.4 3.9% 2007 810.4 5.6% 2008 851.9 5.1% 2009 850.3 (0.2%) Source: Datamonitor DATAMONITOR Table 23: Brazil GDP (current prices, $ billion), 2005–09 Year Current Prices, $ billion % Growth 2005 840.8 32.4% 2006 1,018.7 21.2% 2007 1,245.3 22.2% 2008 1,467.0 17.8% 2009 1,374.4 (6.3%) Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 33
  • 34. MACROECONOMIC INDICATORS Table 24: Brazil inflation, 2005–09 Year Inflation Rate (%) 2005 6.9% 2006 4.2% 2007 3.6% 2008 5.7% 2009 4.3% Source: Datamonitor DATAMONITOR Table 25: Brazil consumer price index (absolute), 2005–09 Year Consumer Price Index (2000 = % Growth 100) 2005 151.4 6.9% 2006 157.8 4.2% 2007 163.5 3.6% 2008 172.8 5.7% 2009 180.2 4.3% Source: Datamonitor DATAMONITOR Table 26: Brazil exchange rate, 2005–09 Year Exchange rate ($/BRL) Exchange rate (€/BRL) 2005 2.4348 3.0264 2006 2.1800 2.7351 2007 1.9516 2.6704 2008 1.8402 2.6927 2009 2.0085 2.7928 Source: Datamonitor DATAMONITORBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 34
  • 35. APPENDIXAPPENDIXMethodology Datamonitor Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross-checked and presented in a consistent and accessible style. Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by analysis from industry experts using highly complex modeling & forecasting tools, Datamonitor’s in-house databases provide the foundation for all related industry profiles Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market overview Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the market and our clients Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and trends Datamonitor aggregates and analyzes a number of secondary information sources, including: - National/Governmental statistics - International data (official international sources) - National and International trade associations - Broker and analyst reports - Company Annual Reports - Business information libraries and databases Modeling & forecasting tools – Datamonitor has developed powerful tools that allow quantitative and qualitative data to be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can then be refined according to specific competitive, regulatory and demand-related factors Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-dateBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 35
  • 36. APPENDIXIndustry associations International Motorcycle Manufacturers Association Route de Pré-Bois 20, Case postale 1838, 1215 Genève 15, Switzerland Tel.: 0041 22 920 2120 Fax: 0041 22 920 2121Related Datamonitor research Industry Profile Motorcycles in France Motorcycles in Germany Motorcycles in the United Kingdom Motorcycles in ItalyBrazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 36
  • 37. APPENDIXDisclaimer All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, Datamonitor plc. The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that Datamonitor delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such Datamonitor can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 37
  • 38. ABOUT DATAMONITORABOUT DATAMONITOR The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Combining our industry knowledge and experience, we assist over 6,000 of the world’s leading companies in making better strategic and operational decisions. Delivered online via our user-friendly web platforms, our market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment.Premium Reports Datamonitors premium reports are based on primary research with industry panels and consumers. We gather information on market segmentation, market growth and pricing, competitors and products. Our experts then interpret this data to produce detailed forecasts and actionable recommendations, helping you create new business opportunities and ideas.Summary Reports Our series of company, industry and country profiles complements our premium products, providing top-level information on 30,000 companies, 3,000 industries and 100 countries. While they do not contain the highly detailed breakdowns found in premium reports, profiles give you the most important qualitative and quantitative summary information you need - including predictions and forecasts.Datamonitor consulting We hope that the data and analysis in this profile will help you make informed and imaginative business decisions. If you have further requirements, Datamonitor’s consulting team may be able to help you. For more information about Datamonitor’s consulting capabilities, please contact us directly at consulting@datamonitor.com.Brazil - Motorcycles 0076 - 0403 - 2009© Datamonitor. This profile is a licensed product and is not to be photocopied Page 38
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