Core Viewpoint - The motorcycle market, particularly in the mid to large displacement segment, continues to show strong performance despite being in the off-season, with significant growth in both domestic and export sales [5][14]. Industry Overview - In July 2025, sales of motorcycles above 250cc reached 88,000 units, a year-on-year increase of 21.7% but a month-on-month decrease of 14.2%. Cumulative sales from January to July reached 590,000 units, up 37.9% year-on-year [2][3]. - For motorcycles above 125cc, July sales were 665,000 units, down 7.1% year-on-year and 5.9% month-on-month, with growth primarily driven by the 125-150cc and 500-800cc segments [3][4]. Sales Structure - The sales of motorcycles in various displacement categories showed diverse trends: - 250cc to 400cc: July sales of 44,000 units, up 6.1% year-on-year, but down 17.5% month-on-month; cumulative sales of 309,000 units, up 45.0% year-on-year [4]. - 400cc to 500cc: July sales of 24,000 units, down 1.1% year-on-year; cumulative sales of 153,000 units, up 5.7% year-on-year [4]. - 500cc to 800cc: July sales of 19,000 units, up 238.8% year-on-year; cumulative sales of 112,000 units, up 118.9% year-on-year [4]. - Over 800cc: July sales of 1,000 units, up 12.5% year-on-year; cumulative sales of 16,000 units, up 107.4% year-on-year [4]. Export and Domestic Sales - Exports of motorcycles above 250cc in July reached 47,000 units, up 77.0% year-on-year, while domestic sales were 42,000 units, down 9.7% year-on-year [3][4]. - Cumulative exports from January to July reached 312,000 units, up 71.1% year-on-year, while domestic sales totaled 279,000 units, up 13.4% year-on-year [3][4]. Company Performance - Changan Power: In July, total two-wheeler sales reached 57,000 units, up 120.4% year-on-year, with significant contributions from both fuel and electric motorcycles [7]. - Qianjiang Motorcycle: In July, sales were 30,000 units, down 24.4% year-on-year, with cumulative sales of 234,000 units, down 13.1% year-on-year [11][12]. - Longxin General: In July, sales were 89,000 units, down 47.8% year-on-year, with cumulative sales of 860,000 units, down 2.8% year-on-year [13][14]. Market Dynamics - The top three companies in the 250cc+ segment in July were Changan Power, Longxin General, and Qianjiang Motorcycle, with a combined market share of 48.3% [6]. - Changan Power maintained a leading position with a market share of 20.9% in July, while Longxin General and Qianjiang Motorcycle held 15.9% and 11.5% respectively [6]. Future Outlook - The mid to large displacement motorcycle market is expected to continue expanding, driven by new model launches and increased export activities from leading companies [5][14]. - Changan Power is focusing on new models in the 450cc and 650cc categories to boost domestic sales, while also expanding its export market [10].

Core Viewpoint - The motorcycle industry is experiencing significant growth in sales, particularly in the mid-to-large displacement segment, driven by strong domestic demand and export performance [2][12]. Industry Overview - April sales for motorcycles above 125cc reached 786,000 units, a year-on-year increase of 24.2% and a month-on-month increase of 10.5%, with notable contributions from 125-150cc and 500-800cc segments [2]. - The 250cc and above segment saw sales of 93,000 units in April, up 28.0% year-on-year and 5.6% month-on-month, marking a historical high [2][3]. - Cumulative sales from January to April for 250cc and above motorcycles reached 298,000 units, reflecting a year-on-year increase of 58.3% [2]. Structural Insights - The 500cc and above displacement models are experiencing robust growth, with April sales of 7,000 units, a staggering year-on-year increase of 436.0% [5]. - The overall mid-to-large displacement motorcycle sales continue to maintain high growth rates, with strong domestic performance as the peak season approaches [3]. Competitive Landscape - The top three companies in the 250cc and above segment in April were Chunfeng Power, Qianjiang Motorcycle, and Longxin General, with a combined market share of 52.9% [4]. - Chunfeng Power's total two-wheeler sales in April reached 56,000 units, a year-on-year increase of 108.1% [4]. - Qianjiang Motorcycle's April sales were 35,000 units, down 12.4% year-on-year, while Longxin General reported sales of 145,000 units, up 9.6% year-on-year [7][11]. Future Outlook - Chunfeng Power is focusing on new models in the 450cc and 650cc categories, which are expected to drive sales growth [6]. - The export market for motorcycles is anticipated to maintain high growth rates, with significant increases in export volumes projected for 2025 [6][14]. - The mid-to-large displacement motorcycle market is expected to expand rapidly, with domestic brands likely to benefit the most from the rising demand [12].