Indian motorcycle companies are expanding their footprint beyond India, establishing a major presence in the Latin American two-wheeler market, especially in Colombia.
Indian two-wheeler makers have shifted their focus from Africa, which was their biggest export market until roughly FY24. According to data from Kotak Institutional Equities, monthly exports to Colombia rose 87 per cent to $48.2 million in FY26 from roughly $25.8 million in FY22. Compared to FY22, monthly exports to Brazil skyrocketed 706 per cent to $14.5 million in FY26.
On the other hand, exports to Nigeria tumbled 58 per cent in FY26 to $15.6 million from roughly $37.1 million in FY22. Uganda exports crashed 24 per cent in FY26 to $6.1 million from around $8 million in FY22.
Colombia emerged as a favourable market for India, with Bajaj, Hero and TVS holding a combined market share of roughly 32 per cent in the country. During the January to September period, Bajaj led the entire market, with a market share of 17 per cent and 1,75,087 registrations. Hero holds a 7.9 per cent market share, and TVS follows with 7.7 per cent.
Multiple factors contribute to Colombia's increasing preference for two-wheelers from Indian companies. Apart from the companies’ business strategies, some of the reasons include a cost-sensitive population, fuel costs and the rise of food delivery apps and e-commerce.
Why are Colombians choosing Indian brands over Japanese giants?
The Colombian market is equally dominated by Japanese giants such as Yamaha, Suzuki and Honda. However, Bajaj surged to the top by focusing on affordability, low maintenance costs and good mileage.
According to World Bank data, Colombia has a gross national income per capita of approximately $7,900 USD or close to ₹8 lakh. Poverty is a challenge in the country, with rates hovering around 33 per cent.
The country has some of the highest levels of income inequality in the world, leading citizens to increasingly choose budget-friendly options.
Food delivery apps and e-commerce are on the rise in Colombia. Delivery partners for major platforms like Rappi and DiDi Food use two-wheelers for commuting. These platforms are estimated to house over 200,000 delivery partners, making daily use a priority.
Though users often report that Japanese brands have better quality, they are more expensive and have higher maintenance costs. Indian brands offer better economic utility for the working class.
For instance, an entry-level Bajaj model costs between $5,899,000 COP and $7,499,000 COP, while Yamaha’s models cost between $7,800,000 COP and $10,900,000 COP.
Colombia is also vulnerable to global market shifts, as it relies heavily on energy exports. The West Asia conflict disrupted fuel prices, making it a major daily expense for consumers. Bajaj offers better mileage than some Japanese alternatives.
Why is Bajaj leading the market?
Bajaj made a smart move by partnering with a regional company, Grupo UMA, to assemble knocked-down versions of Bajaj two-wheelers exported from India. Grupo UMA was formed through a strategic merger with two conglomerates. One was Magna Motors, which had previously been a regional distributor for clients such as Hyundai, BMW, MINI and Harley-Davidson. This gives the company access to local dealers, domestic demand cycles and price competition.
TVS Motors followed a similar strategy to Bajaj, handling its local production and assembly through a partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading local motorcycle assembler. The company also set up a dedicated training service centre.
Hero has also started local manufacturing through its joint venture with Woven Holdings LLC, HMCL Colombia. The wholly-owned subsidiary was specifically formed to handle the local assembly, sale, distribution and marketing of Hero’s two-wheelers.
