Click on the above image to play the video.

Participation in the 16th edition of the annual fair beat the previous high and included nearly 3,500 accredited members of the international business community from more than 40 countries, including most of Latin America, Japan, Australia, Saudi Arabia, Switzerland, India, Afghanistan, and more.

Of the 450 total exhibitors, 106 were international, including 12 first-time foreign exhibitors and a large presence of industry companies from Asia.

In terms of economic impact, F2R 2024 generated more than $20 million USD for the city, according to the Secretariat of Economic Development of Medellín, and helped facilitate upward of $60 million USD in sales, both between exhibitors in large-volume transactions and in sales to the general public who attended. More than 1,400 motorcycles were sold during the show, according to organizers.

Next year’s event is May 15-18, 2025

For more information go to https://www.feria2ruedas.com/en/visit…

See also: 

Interview: Guillermo Pajón Explains How Medellín’s F2R Became One of the Most Important Motorcycle Industry Events in the World

Finance Colombia’s Loren Moss had a few moments to speak with the event founder Guillermo Pajón about the event’s continuing success, record breaking growth, and importance to both the motorsports and transportation sectors in Colombia and Latin America.

Finance Colombia: I’m here with Don Guillermo, founder of not only Feria de las 2 Ruedas, but also of Prisma Business Management & Events. And I just read a press release from the Municipality of Medellin which states that Feria de las 2 Ruedas impacts the economy of El Valle de Aburrá, of Medellin, with over $20 million USD. And that is so impactful that I can see we already have here, in Plaza Mayor, the convention center in Medellin, over 400 exhibitors, over 2,000 brands. And they are saying you are going to have over 80,000 visitors, is that true?

Guillermo Pajón: First of all, a special greeting. I’m very glad to be sharing with you all, with a man that we also appreciate a lot because he’s always delivering good news about Colombia, about the world, which is what has to be done. We need to try to generate hope, generate faith, say that there are things that can happen. And I believe that with Feria de las 2 Ruedas we are demonstrating that things can be done and can happen. Perhaps in a moment of political uncertainty in Colombia, as well as economic uncertainty…But I believe that the fact that we have 450 exhibitors today; the fact that over 1,500 brands are here today on display; the fact that we have so many people who have arrived from different continents, from different cities, to shake hands and do business, to see what is going on in this dynamic industry that represents almost the 62% of the vehicle pool for Colombia today.

Next year’s event is May 15th to 18th, 2025.

That is, in Colombia there are more motorcycles than four-wheelers (cars and passenger trucks), and it’s a figure that continues to grow. It’s expected that for this year, which is apparently a year of recession after what happened during the pandemic; because 2022 was a really good year, for everything. It is expected that about 650,000 motorcycles will be sold, and that continues to be an interesting figure, not like the figures we’ve been presenting in previous years. Feria de las 2 Ruedas is that space that allows people to make connections through business events, through the business roundtables, through the path that leads to innovation, where 13 brands have presented new models to the industry.

And something else that has caught our attention: the matter of safety. There’s been a lot about the topic of safety in motorcycling. All the ergonomic innovations in motorcycles, with some really special features, with captivating designs…And we can’t forget what’s coming regarding electric mobility, sustainable mobility…Which, today, the Asian delegations are presenting at the fair a large number of offers, and there are also some Colombian brands that today are representing those international brands of sustainable mobility.

Finance Colombia: Yeah, it’s impressive that there is a big delegation here. We conducted an interview with an Indian company, looking for trade links. There’s always a big presence in the pavilion, like China’s as well, and that is very impressive. And one thing I notice because there used to be…Last year the event was successful, but there was a lot of uncertainty coming from many exhibitors about what was going to happen, because of the political-economic situation. But here I notice that brands like Honda, Suzuki, Yamaha are back. Those brands that, due to their own reasons, were not here. And not only the big ones like them, the Japanese, but also those that are always here for the “popular” population, I mean, like Bajaj, like Hero, and AKT, of course, here in Medellin, and TVS, and those brands. But also, another thing I noticed is that this year there are a lot of brands where I asked myself and said, “Wow, I don’t know that brand,” and I went to talk to them and they told me, “No, we are new here, for the first time.” There is a big Mexican brand, Vento which is already big in Mexico, and they told me, “We have big plans for Colombia.” And I think that here, aside from what is happening out there, here there are many votes of confidence in the potential and the opportunity that this sector of motorcycles here in Colombia shows.

Guillermo Pajón: Right, you put it very well. Last year we had a gap, we were really missing these Japanese brands, and now they have come back. They have come back to connect with their users, with their current and potential customers…Because the fair does not choose; they choose us. And they choose us to show themselves, to connect. And I believe the brands understood that it’s not a fair that favors certain brands, or certain origins. It’s the brand…It’s everyone’s fair, and it’s the one that allows us to gather all that supply and demand (in a single place). And yes, there are many new brands. Many brands, not only in motorcycles, but also clothing and equipment. Many brands are coming with new purposes, with new alternatives for this industry. And that’s one of the things the fair is presenting this year: novelties.

Finance Colombia: Yes, that’s true. I have seen that now there are, electric motorcycles, electric bicycles, skateboards…things that I don’t even know how to define, which are already breaking the rules, talking about transportation and innovation. Medellin has always been kind of like the driving force of innovation here in Colombia, and here this event demonstrates so. Another thing that is very important: With 80,000 visitors, I have already spoken with many foreigners, and they say they are in the industry, that they come here to do business; others that are simply tourists or fans. And it’s an event…Today is the day for the press and the industry, but tomorrow…I remember when there were only two days open to the public, but we were shoulder-to-shoulder, and already with three days open to the public.

And I’ve spoken to people who come from the United States, who are not in the industry, but they are people who love motorsports and such. And this event has a positive impact if the mayor and even the president are talking about the correct tourism, responsible tourism, family tourism. And what’s Feria de las 2 Ruedas’ role in promoting the clean, correct, and responsible kind of tourism for Medellin and Colombia?

Guillermo Pajón: Of course. In line with what our Mayor Federico Gutierrez has proposed, we need tourism that contributes to the city, from the social, the economic, the innovation, the knowledge. And the fairs, the conferences, the conventions, the corporate events, are also going to be a priority in the city. Not only the entertainment. To be able to have those international experts, that come here and share with the students, with the university students, with other businessmen, the new dynamics in technologies and production. And I think it’s one of the very important aspects of this fair; those spaces. We hold 127 events, half of which have to do with training, innovation and marketing.

Finance Colombia: Well, this event, to me, aside from being a journalist, being a motorcyclist for many years too, for like 30, 40 years…This event…aside from my professional role, I love it, and I recommend everyone to visit it. My only concern is that we have already run out of space. Plaza Mayor is a huge convention center. And it’s scary to think about how to solve that, it’s a good problem to have, but what will you do next year? Are you going to take up even EPM and Parque de las Luces, and I don’t know what else?

Guillermo Pajón: Yes, truly…I said in my inaugural speech to the secretary of Economic Development, María Fernanda Galeano; I said to her, “We already need to start thinking about how to annex Teatro Metropolitano to Plaza Mayor; how we can be annexing these places around the venue, to give a larger commercial offer.” And logically, to be able to respond to all that demand from national and international exhibitors that want to visit us, and who have found in Feria de las 2 Ruedas, and in the city, a meeting point in this industry. And today we are ranked among the four or five most influential fairs of the world. And we take pride in that, but at the same time, it commits us to raise the bar higher each time.

Finance Colombia: That’s true, and I’m here working, but I’m going to come back… My brother is visiting, I’m going to come back during the weekend to attend as a motorcycle enthusiast. So, I congratulate you on such a special event, aside from its importance, because it is very important, but it’s also something…You know me, I’ve been coming here from even before I was living in Medellin.

Guillermo Pajón: Of course.

Finance Colombia: [Laughs]. So, here’s to another successful year. We want to see many more years. So, Don Guillermo, thank you so much. I know you are the busiest man in Medellin today and in the following four days, so thank you for giving us a little bit of your time.

Guillermo Pajón: No, thank you very much. We’ll be seeing you around here. Follow him, because he will be sharing news with us; he will be telling us what’s in innovation and what this 16th edition of Feria de las 2 Ruedas in Medellin, Colombia will be presenting. Best regards.

Finance Colombia: Feria de las 2 Ruedas, I’ll put the link right down here. Click, register, it’s open to the public. Come! Thanks.

https://www.feria2ruedas.com/en Next year’s event is May 15th to 18th, 2025.

Even with the notable absence of several of the Japanese brands — except Kawasaki, which had an impressive presence — this 2023 edition of the Feria de las 2 Ruedas broke all records.

As something of a tradition, just as in prior years, Finance Colombia’s Executive Editor Loren Moss was able to unpack the details and takeaways of this year’s event with founder and organizer Guillermo Pajón. The two analyze the absence of some of the traditional two-wheel powerhouses, along with how the event has evolved and grown over the past several years.

Some may not realize that Pajón’s Prisma Events, the organizer of F2R offers an array of logistics services for events in Colombia throughout the year. For the first time, the discussion expands to the possibilities and offer for international companies and organizations considering holding their next major function in Colombia.

Next year promises even more, and smart cyclists have already marked their calendars for F2R from May 2-5, 2024.

Loren Moss: Mr. Guillermo, good to see you.

Guillermo Pajón: You as well! Nice greeting you, it’s good to see you. Thank you again for joining us, I told [our associate] Jason that you were already a very close friend of ours, that we appreciated you very much. Again, thank you very much for joining us in this 15th version of the fair. How many fairs have you been with us already?

Loren Moss: Wow, I think my first one was almost 10 years ago. My first F2R was in 2015, I think, and I’ve never missed it. I always plan ahead, because of all the trips I have, I always keep that space blocked. I assure you I will be in Medellín for that event. And wow, how impressive, number 15, how you’ve grown. And I think this year there were like 20,000 more people than last year, right?

Guillermo Pajón: Yes. I don’t know if you managed to tour all the pavilions. If you managed to see all the pavilions, logically it is a lot bigger insofar as space occupation, even without these three other very important brands, the Japanese ones that didn’t join us this year because of all that’s going on in the country. They got really scared with the new government, because when we went out to market the fair in 2022, the current Colombian government had only been in power for a month, and these brands got really scared. They said, “we are not going to any events, we’ll wait and see what happens with the country.” But well here we are and, again, thank you so so much for joining us.

Loren Moss: That’s something that’s a really complicated matter. Because I, as a journalist, and our publication is more about the business aspects, and there’s so much uncertainty in the mind of the investor. I’ve seen factory projects postponed. And what do the multinational companies say? They say, “let’s wait, see what happens.” So I hope they gain the confidence to return, but even though Kawasaki already had a stronger presence than before. Benelli Italy, are the ones that are always loyal, like Royal Enfield, we did the tour in the AKT factory in Envigado, where they also make the Royal Enfield; Triumph is also always very strong in the event. And this year I’ve seen there are a lot of new brands, right?

Guillermo Pajón: Of course. Vento arrived. Vento comes from the USA to Mexico and is a brand that I’ve known for 15, 17 years. It’s really strong in Mexico, and they came in full force. Apparently, they opened about six or seven sales points in Colombia, and almost 300 bikes have already been reserved before the month of August, so I think that is a positive impact for the industry.

Suddenly, the space that the Japanese brands left, other brands are going to take it, which can happen when one is not present and a consumer wants to buy a bike and doesn’t see it. But they see another brand. So, in a way, that takes away the potential those brands had. Not to say they aren’t benchmark brands in the world, but there’s a market for every user and for every pocket, as they say.

Loren Moss: It’s ironic. Because I was prepared this year, I saw Honda launched a new model out in the world, called Transalp, which is like the Africa but smaller. It’s a 77 motor. I wanted to buy that, and my wife was also going to buy. She has an ATK, but she wanted to switch to a Suzuki or a Yamaha. So, we go with our wallets ready — and they aren’t even there! Imagine.

Guillermo Pajón: Yeah, yeah. It made an impact. And let me tell you, there isn’t going to be a fair in Brazil, the Feria de las 2 Ruedas in Brazil, which was normally held in October-November. This year won’t be done in Brazil. Brazil is a market that is 80%, as someone explained to me, Honda, and Honda isn’t going to the fair. Therefore, there won’t be a fair. That Brazil situation for the end of this year caught our attention.

Loren Moss: Well at least we know then it’s not just in Colombia, and I hope the market takes up this issue. At least Kawasaki was there, but to see the other traditional Japanese ones — I hope they return. But speaking of countries, India was the guest country this year, if I recall correctly.

Guillermo Pajón: Yes, that’s correct. I think Europe and Asia, especially, are looking at Latin America in a very special way. I think there is a very important development in Latin America, and now we see Peru, Ecuador, and Central America growing quite a bit in the motorcycle industry.

There lies the importance of the Feria de las 2 Ruedas in Colombia, because it becomes equidistant for the Latin American market. I mean, Colombia is in the center of all of the Americas, and that allows the meeting of all the entrepreneurs of Central and South America as a sort of council, and that caught our attention quite a bit.

Because the Brazilian market is very much their own. It’s very protectionist. It has high fees for foreign brands to enter. Because it’s such a big market, they practically handle it all themselves. And they aren’t interested in having a big impact on the outside market.

Meanwhile, for the rest of Latin America — including Argentina now, which also has an interesting range of motorcycles, the same as Mexico — we are seeing high growth in the industry in Central America, Peru, and Ecuador.

So, there lies the importance of the fair and of having had India showing its products. Let’s not forget India has some really good products. The Royal Enfield is Indian, the TVS is Indian, and there are a lot of very high-quality Indian products and spare parts.

They have been really strong in clothing, meaning jackets, too. I don’t know if you saw the Pakistan stands. They are very strong in jackets, gloves. It’s a market that they are finding to be really interesting in Latin America, and that’s why the Feria de las 2 Ruedas has taken this role of being the fair that is gathering all the entrepreneurs of the Americas.

Loren Moss: Going from the global, international market to the local one, something new I saw this year was that you made a space for local entrepreneurs, from Medellín, Antioquia. That was a very interesting thing, some space to promote the local industry. Medellín obviously has its traditional textile industries. Obviously, there are factories here like AKT, like Incolmotos up north. But you guys made a space, and if I recall correctly, this was the first year that you made a space dedicated to small, local entrepreneurs, right?

Guillermo Pajón: We have always had this calling of making space from the social support side of the fair, because a small entrepreneur is going to say, “Look, I can’t pay for the stand, I can’t make it work, I don’t have the budget.” They see it as too unattainable, too superior, when they come across these big companies with very elaborate stands, and a lot of money invested in them.

What did we say to the mayor’s office of Medellín? “Mayor’s office of Medellín, come help us subsidize and contribute to these small entrepreneurs so they can also participate in the fair.” And I’ve got to say, the mayor’s office of Medellín provided money to these entrepreneurs, so they can subsidize their stay at the fair and make themselves visible.

They are small manufacturers. Some are “famiempresas,” as we call them in Colombia, meaning family companies. The man who is working with his wife, the one that is operating a small factory. And in some ways, we’ve seen over time how many of them, who started very small at the fair, have been growing year after year, because the fair opened up a lane for them.

I remember one time, there was a small clothing company that made small bags, and a company like AKT came along and said, “I’m interested in your product, I’m going to buy 5,000 of those.” That boy didn’t know if he should be happy or hide under the table!

Loren Moss: Exactly!

Guillermo Pajón: Because he was, like, “first, I’m glad because I never had an order like that, but, second, I don’t have the capital to produce 5,000 of these.” Because, logistically, a big company is going to ask for it, and first you have to produce it. And to produce it, you have to buy the input material. So he said to me, “look how great! — and at the same time, it’s bad what’s happening to me because I’m not prepared yet as a small entrepreneur to respond to this industry.”

Loren Moss: Good problems. There are good problems and bad problems. That’s a good problem.

Guillermo Pajón: That’s right.

Loren Moss: That was excellent. So, tell me, for next year, in the future, what worries me is that you run out of space. Because success leads to more success. Every year it’s more: There are more companies interested in participating. This year, you took the metropolitan theater. You didn’t have to do that before. So it is still growing — another good problem!

What you are going to do for next year? It’s going to be plenty of space because of all the interest. And you guys have two parts: a part for the industry and a part for the public. It was really good what you changed, that you made an extra route for the public, because there are so many people who want to participate that they are shoulder to shoulder.

I remember last year, it was so full, and it’s good to provide more space, but will there be more space for more companies, factories, the industry companies that want to participate?

Guillermo Pajón: Very good question. There are two things that we are going to do. We spoke with the metropolitan theater, because we were only using the internal side of the theater, and we got the confirmation that we can use the parking spaces, the lobby, and some parts of the theater lobby as a commercial area.

So, we are most likely going to have a larger commercial presence in the metropolitan theater. Not just for academic events or the innovation room, but the outside of the theater as the commercial part. And that will mean asking for permission for the closure of the surrounding streets to make that whole area one single fair, including the access routes, leaving space for parking.

That’s first. The second option is to be more selective. I explained it this way: As you get older, you say, I know what movie I want to watch, I know with what friends I’m going to live my life with, I know what liquor I want to drink. At a restaurant I already know what I’m going to order. You don’t just order anything nor accept everything.

So, we are going to strive to be more selective without disparaging any of the exhibitors, meaning that we will operate with the understanding that the fair is now at a certain level.

I’ll give you an example. There is an exhibitor that was in the white pavilion last year. The white pavilion has carpets and mats. Last year, Suzuki was there, SYM was there, and Harley Davidson and AKT. Very good brands. And this man sets up a stand without any decoration, with nothing special. The representative of Suzuki comes up to me and says, “Look, I don’t think it’s fair that I’m making such a big investment, setting up such a beautiful stand, and next to me there’s this stand so poorly presented that isn’t in par with this fair, which has, on an aesthetic and installation level, a very international presence.”

So, when we say selective, we don’t mean that we won’t allow them to enter. But that we are going to be more demanding when it comes to presenting and being at the event.

Loren Moss: I think that is a good strategy. Especially because there’s a lot of space. There is a place where you have the brands of the motorcycles, and you also always have a space for spare parts and tools and motorcycle jacks and stuff for the workshop. You always have space for jackets and boots and things like that. So, that also helps guests, because if I’m looking for that, maybe I’m going to find it here. If I’m looking for accessories, they are going to be over there. So I think that’s a good strategy. Do you already have the dates for next year?

Guillermo Pajón: Yes. It’s going to be from the May 2-5. Those same four days. At the moment, we are conducting a survey of the exhibitors to see if they want four days for the fair, or if they want five days. We are conducting a survey where we are asking exhibitors if they want it every year, or every two years.

We are conducting a survey of the exhibitors to see if they want to make it one year in Bogotá and one year in Medellín. Or just Medellín. We are doing all of that to have an outlook on what may be the future of the fair.

Bogotá is an interesting place on a user level, but we understand that logistically, Medellín — because of the assembly plants, the number of large companies the city has, and because of all that the city of Medellín generates — has a very strong appeal. But we do want to make agreed-upon and democratic decisions keeping our exhibitors in mind.

Loren Moss: Well, I know that the event is a big source of pride for the paisas [of Antioquia] having it here in Medellín. I imagine they don’t want to lose it, especially to the rolos [from the Colombian capital]. But be it in Bogotá or Medellín, either way, I’m always going to attend.

Can you tell me briefly about Prisma? Because your company is more than F2R. That’s the most famous, but you guys are large event planners, and I imagine there are companies from our multinational readers who think of doing fairs or events in Medellín or Colombia. What services does Prisma offer? Because I know the motorcycle fair is the most famous for the public, but I know you have a very successful company that does more than just the fair, right?

Guillermo Pajón: Yes, we have three business units. One is what we call Prisma’s own events, which is the Feria de las 2 Ruedas, and for over 20 years we’ve been doing another fair, which we started, called Feria Autopartes. That one, maybe next year we will be turning it into another fair.

And there’s a fair that is pending — there’s a date reserved for it already — called Autoshow. Autoshow is a fair similar to the one at SEMA, in Vegas. In Vegas, there’s a fair called AAPEX, which is a fair for spare parts for four-wheeled vehicles, and parallel to that there’s a fair called SEMA, which is the fair where they exhibit everything related to vehicle personalization, tires, tuning. Because the embellishment of vehicles isn’t so much about spares anymore, but rather it’s a fair more dedicated to the user as such.

So, that is one of the divisions of Prisma. Then, Prisma has another division, which is events for third parties. Meaning, we do conferences, provide accompaniment at other fairs for consulting, we do conventions, and some special events like festivals in the cooperative sector. Last year, for example, we did two big conferences. This year we are doing two other really big conferences, which we operate for universities or other entities and organizations in general, for the pharmaceutical sector we also do some conferences.

Then, we have a third division called Prisma Montajes, which makes possible all the installations you saw at the fair. Meaning, there is a separate warehouse, and when someone says we need to set up an event, we, for example, make the installations for Colombia Moda and Colombiatex in everything related to paneling. All things furniture. What you saw, for example, in the press room. All that furniture, all those installations are made by this third Prisma company called Prisma Montajes.

Those are the three business units that our company has.

Loren Moss: Logistics, so that’s very important. You’ve been very kind with your time, so I’m thankful. My last question, if I recall correctly, is how is your Harley Davidson?

Guillermo Pajón: Oh, yeah! I don’t have it anymore. I have other collector bikes that have always caught my eye. The thing is that I used to have a Harley Davidson, a really nice 883. You have a good memory!

So, the thing about the Harley is that the Harley is a bike that you have to take out for a ride, it’s not much of a city bike, because here the traffic jams in the city don’t allow you to have a bike where one can just go for a spin. And really my multiple occupations don’t allow me to be on the hog or in these groups that are riding permanently. But I have really enjoyed collecting a few bikes, especially the personalized and customized ones, which are the ones I like the most and the ones that catch my eye.

Loren Moss: Super. Well, Mr. Guillermo, thank you very much for your time. It is always an honor, and I’m also happy to see the success. The event is a great pride for Colombia, especially for Medellín, and I hope you continue having success as you’ve had so far. It’s a very important thing, and it makes me very happy and proud to attend and to participate as a journalist. So, thank you very much.

Guillermo Pajón: No, again, thank you so so much. Because people like you are the ones that make the event big — make it capable of crossing borders so that we can tell the world, in the middle of all these news that aren’t so good at times, that we are working for the country, that we are working for the good things, that we are generating jobs, that we are generating life, and especially, that we are making things happen. Thank you very very much. I send you my best regards with all my appreciation.

Loren Moss: Best regards — and see you in May 2024 if I don’t see you sooner!

Guillermo Pajón: OK, of course. Best regards. See you later.

Photos: Liliana Padierna

F2R, or Feria 2 Ruedas (2 Wheels Fair), officials claim that the four-day gathering created an overall economic benefit of $15 million USD given its generation of direct and indirect jobs, among other factors.

The convention, which was held from May 4-7 in Medellín’s Plaza Mayor, brought in 50 motorcycle industry exhibitors from 35 different countries and facilitated sales among the vendors. This year’s event also pushed the theme of sustainable mobility, including 19 exhibits that featured electric scooters and other displays with a focus on environmental awareness.

The exhibition hall at F2R 2023 was packed throughout the four-day event in Medellín.

While the first two days of the event are reserved for industry participants and registered attendees, the event became a public exhibition for enthusiasts in the city who gathered to see the motorcycles on display, purchase merchandise, watch riding displays, listen to talks, and generally enjoy the atmosphere.

“This year, the fair has been spectacular,” said Mauricio Maestre, director of PaMotos.com. “The flow of people has been constant as always, exceeding expectations … We have made sales, we are doing well, and our products have been received really well.”

Sponsors, vendors, and exhibitors spent the weekend trying to close sales and entertain attendees.

Over the course of four days, 80,000 attendees passed through the convention grounds to absorb everything motorcycle related, along with participation from bicycle, electric mobility, and all-terrain vehicle manufacturers. Motorcycles were on display ranging in price from under $1,000 USD up to well over $50,000 USD.

The absence of Suzuki, Yamaha and Honda calls into question their commitment to the Colombian market.

International exhibitors brought in about twenty-four tons of merchandise from Brazil, China, Spain, the United States, India, Italy, Mexico, Nepal, Panama, Taiwan and Venezuela. Among the items registered are motorcycles, bicycles, helmets, spare parts, clothing, souvenirs and more, taking advantage of the fact that Plaza Mayor is a transitory free zone, removing duties and VAT on exhibited products.

With the exception of Kawasaki, that had a strong presence demonstrating its commitment to the Colombian market, the strange absence of the three Japanese brands: Honda, Yamaha, and Suzuki was more than compensated by new market entrants demonstrating the Vibrance of the Colombian motorcycle market, and Latin America more broadly. For example, new vendor Vento Motorcycles made its Colombian debut  and announced a pre-sale of 300 motorcycles during the event.

Harley Davidson has been a faithful and enthusiastic exhibitor every year (photo: Loren Moss)

High end vendors like Harley Davidson and Ducati were also on hand, as were storied brands like Triumph and Royal Enfield.

Aside from commercial exhibits, there were 32 academic sessions attended by over 1,100 industry professionals, students and devotees, as well as accolades for groups such as women riders and motorcycle clubs.

The third annual stunt competition took place, with winners being:

Female:
Angie Dayanna Camargo Gómez – La Mona Stunt
Rookies: Belsasar Castillo Obregón – BelsaStunt299

Pre Experts:
Jhon Camilo Restrepo Vélez – Camilo Stunt

2 stroke Experts:  
Eduardo Messino – Neider Stunt

4 stroke Experts:
Pablo Zapata Parra – Vocha

High Cylinder:
Pablo Zapata Parra – Vocha

As before, the first two days are industry-only, where deals are done among the importers, exporters, and retailers, including all the major global motorcycle brands. There is also an academic track of 35 sessions where technical issues are discussed such as developments in lubricant, engine and electronic technology, and motorcycle lifestyle issues, such as group and club reunions, celebrations, and awards.

Saturday and Sunday, the final two days of the event, admission opens to the general public, and the fun ramps up with stunt shows, concerts, prizes, and general two-wheeled fun. 4,000 square meters have been reserved for two separate stages of motorcycle stunts and spectacles.

In addition to 780 motorcycles and 300 accessory brands, journalists representing 11 countries have registered to attend, 147 electric vehicles will be displayed, and there will be 19 exhibits on sustainable mobility, from electric scooters to next-generation personal vehicles. All Terrain Vehicles and Bicycles also have an important presence at F2R.

Motorcycles are an important mode of transportation in Colombia making it the ideal location for F2R, the largest and most important motorcycle industry event in The Americas. There are around 9.4 million motorcycles roaming Colombian roads, including over 640 thousand sold in the first nine months of 2022, representing a booming 19% growth over 2021 when mobility was restricted due to the COVID pandemic.

While high end motorcycles such as Ducati and Harley Davidson do well in Colombia among high-income riders, the market is dominated by small-cylinder (100-150cc) basic transportation motorcycles from brands like Yamaha, AKT, Bajaj, and Suzuki.

See also: Guillermo Pajon Discusses The Success & Importance Of 2022’s Bigger & Better F2R Motorcycle Industry Event

Photos: Loren Moss

The year-to-date total of 152,482 so far is also 2.9% below the number of registrations from January through August 2016, reported the organization. Despite that slight downturn, FENALCO still projects the year-long total in 2017 to be above the sum seen last year.

Chevrolet, the leading automotive brand in Colombia, accounted for 22.0% of the total in August. It was followed by Renault (20.3%), Nissan (8.8%), Kia (8.5%), and Mazda (7.6%). Together, these five leading brands represented 67.2% of the automobiles registered last month.

Compared to August 2016, Nissan showed the highest growth at 23.6%. Mazda was nearly steady (with 0.6% growth), while Renault (a drop of -2.1%), Chevrolet (-12.8%), and Kia (-20.6%) all had negative results.

Only Chevrolet had more vehicles registered in August than Renault, and the two companies combined to make up nearly half of all registrations in Colombia. (Photo credit: Jared Wade)

In terms of specific makes, the top five models registered so far this year in Colombia are Chevrolet Spark, Chevrolet Sail, Renault Sandero, Renault Logan, and Kia Picanto. The Sendero has seen the biggest improvement compared to its performance at this time last year, while the other four all showed declines in comparison to August 2016.

In terms of the types of vehicles registered, FENALCO divides the automobile industry in Colombia into various different categories: cars, utility vehicles, pickups, wagons, vans, freight cars, commercial cars, and taxis. Registrations for utility vehicles and pickups were the only categories that showed an increase in August. Utility vehicles recorded the largest growth in registrations, with a 7.8% uptick, while pickups increased their numbers by 5.0%.

Geographically, Bogotá continues to dominate the market. The capital contributed more than one-third (34.2%) of all registrations in August, while the next two largest Colombian cities, Medellín and Cali, accounted for 15.4% and 11.0%, respectively.

Bogotá and Medellín each showed a slight improvement, jumping 2.6% and 1.6% from the same month in 2016. Bucaramanga, the capital of the Santander department in eastern Colombia, had the biggest decline among large cities at -11.9%.

Automobiles were not the only transportation category to show disappointing numbers last number. Motorcycle buying has also been sluggish throughout 2017, with just 279,914 motos registered from January through the end of July. This is down 14.5% from the 327,613 registered from January through July in 2016.

The five most-registered brands of motorcycles this year in July were Bajaj, Yamaha, Honda, AKT, and Suzuki.

“You could say that this is a year of transition, and we are adjusting ourselves to a new reality.” – Juan Carlos González of Yamaha Incolmotos

Globally, Yamaha sold approximately 12 million motorcycles in 2016, bringing in around $8.3 billion USD in global sales. More than half the company’s sales came in Asia, where populations are huge, budgets are small, and streets are crowded.

Latin American, by contrast, represents just a small piece of the global pie, with about half a million motorcycle sold in the region. Brazil is the largest market in this part of the world and Colombia, where its business is done through Incolmotos Yamaha, comes in second. Add in Mexico and Argentina and those four countries account for about 80% of Yamaha’s sales in Latin America.

For a time, Colombia, with a population of around 50 million people and many motorcycle riders, represented a good location for expansion. But an economic downturn since 2014 has disrupted that story of growth, which Juan Carlos González, manager of production management at Incolmotos Yamaha, explains by looking back to last decade.

(Photo credit: Loren Moss)

Back around 2004, says González, there were really just four major players in the Colombian motorcycle market: Yamaha, Honda, Kawasaki, and Suzuki. But soon after, more competition started to enter the scene, with low-cost bikes from Chinese and Indian companies putting price pressure on the established sellers.

“In the Colombian market, the Japanese brands are not economical brands,” he said. “They are high-value brands, because their development and production — which in the beginning were completely in Japan — have a cost for quality.”

This didn’t change Yamaha’s operating strategy, however. The company, which operates from its main plant in the town of Girardota in Antioquia not far from Medellín, didn’t race to begin offering budget bikes. It was happy to instead position itself as the aspirational choice for many Colombians. Perhaps they would start out with a Chinese model, but in time they could trade up — with some dreaming of models like the R1M that has a retail list price of nearly $25,000 USD.

“It’s hard to acquire a Yamaha motorcycle,” said González. “Yamaha doesn’t have any economical motorcycles, and it isn’t going to have any either. Because to produce a motorcycle with the standards of quality of the Yamaha brand costs money, so it’s a perception of value.”

(Photo credit: Loren Moss)

Ultimately, he sees the introduction of the low-cost models as a benefit to the Colombian market. By definition, those new imports were competing for the same limited pool of bike riders as Yamaha. But the Japanese firm hasn’t lost any sizable market share over the past decade. In a way, the Chinese and Indian motorcycles were actually going up against public transportation and helping expand the market rather than taking customers away from Yamaha.

With new low-cost options, many Colombians earning low wages could, for the first time, validate buying a motorcycle rather than taking the bus or the metro, says González. And once they became a rider, they likely wouldn’t go back to the bus. On the contrary, they will likely start to consider buying a higher-end option in a few years when their paycheck improves and it’s time to make another purchase.

“The market has continued to contract.” – González

“For us, our aim is to have a minimum of 20% market share,” he said, stressing that Yamaha’s goal in Colombia is “to be visible” and provide financing options “so that, little by little, they can acquire our products with legal credit.”

This strategy hasn’t been smooth sailing, however. The Colombian economy is highly dependent upon oil, and when the price of a barrel of crude fell precipitously toward the end of 2014, it sent shockwaves throughout the economy. The peso lost about a third of its value within a year, inflation spiked, and consumer confidence began to wane. “Obviously, the market contracted,” said González.

The administration of President Juan Manuel Santos and Colombian Congress also passed a tax reform late last year that increased the nationwide value-added tax (VAT) from 16% to 19%. This has strained margins, and he says that Yamaha’s Colombian operations have overall effectively suffered around a 50% currency devaluation to their bike sales price over three years.

(Photo credit: Loren Moss)

“We have not passed on all that devaluation that we suffered to the public price,” he said. “We made improvements in our internal offices, negotiations with suppliers, and some was passed on. We passed on only about 15% or 18%.”

The entire market has felt the effects. “There are items in the economy that are out of reach because first you have to subsist,” he said. “You have to buy food, you have to have clothes, you have to pay for education, and then come the other expenses which in some cases can be considered a luxury item, like a motorcycle. That’s why the market has continued to contract.”

It hasn’t all been bad. Amid the downturn, Yamaha has looked to find new customers.

Of the roughly seven million motorcycle riders in Colombia, nearly one-third are women, according to Incolmotos. The percentage hasn’t always been that high, and the company has specifically tried to target this market in recent years by producing smaller bikes suited to their needs and offering safe-driving education resources to help women feel more comfortable in the crowded roads of cities like Medellín and Bogotá.

Incolmotos, as it showcased at the Feria de las Dos Ruedas motorcycle fair in Medellín in May, now offers at least four scooters in Colombia as well as several small, sporty bikes, like the Líbero 125 and SZ-RR, that can be bought for around $1,500 USD. “Women slowly have dared more and more to become more autonomous in their transport, and that’s why these scooter-type motorcycles are so important,” said González.

(Photo credit: Loren Moss)

The company is also benefiting from operational improvements made earlier this decade, said Alba Lucia Yara, who is in charge of the development of local parts for Incolmotos Yamaha. The company formed an alliance with the assembly companies of two other Japanese brands, Honda and Suzuki, to start a training program in 2010. This also included partnering with the National Service of Learning (SENA), a public institution in Colombia that looks to provide workers with in-the-field professional development.

Colombian law mandates that a certain percentage — at least 17% — of the vehicle must be locally produced in order to avoid a hefty 25% tariff.

The Colombian public science agency Colciencias has also played a role in improvements. By incorporating innovative production methods into the plant, such as aluminum injection technology and better mold casting, it has helped save costs on imported products.

Others in the wider assembly industry, including Renault and Mitsubishi, were receptive to collaborations as well, and the Medellín-based startup accelerator Ruta N has worked with this network to promote competitiveness, innovation, and shared research.

This isn’t solely for efficiency gains. Colombian law mandates that a certain percentage — at least 17% — of the vehicle must be locally produced in order to avoid a hefty 25% tariff. According to González, if Yamaha imports a fully assembled motorcycle — known as “completely built up” — then the bike is subject to both the 19% value-added tax and the tariff.

On the other hand, if it comes “completely knocked down” and is then assembled in Colombia along with locally produced parts, that import tax only amounts to 3%. The company, he says, often makes the built-up vs. knocked-down decision based upon expected sales volume of a specific model.

(Photo credit: Loren Moss)

If it is a super premium bike that will only sell a small number of units, then Yamaha may just import the bike from a plant in Asia and pass the extra cost on to the high-end consumer. But if sales will be significant, it makes sense to incorporate the assembly into its plant in Antioquia and then have a lower price point that will encourage more sales.

Increasing efficiency at its plant and maturity as a producer in the market is paying dividends, says the company.

Though it can vary case to case, González says that “the price goes down dramatically” and it is imperative that the plant maintains a 17% average of locally sourced work across its product line. “If you don’t comply with that 17% minimum on average…the fines are very, very high,” he said. “So you have to be very careful.”

Now, Incolmotos Yamaha produces many parts in Colombia that it previously imported, including chassis, suspension, steering forks, rear crank handles, lights, and footrests. “We work with competition and with other sectors in order to work towards some common interests,” said Lucia.

Increasing efficiency at its plant and maturity as a producer in the market is paying dividends, says the company. These aren’t glory days for anyone selling motorcycles in Colombia, but the executives are optimistic that the company is now set up better than ever to reap major rewards when the market turns back toward growth.

“The market has continued to contract, and has prevented the tendency towards growth from continuing,” said González. “You could say that this is a year of transition, and we are adjusting ourselves to a new reality.”

According to a new forecast by TechSci Research, the popularity of two-wheelers is only set to grow. The company’s “South America Two-Wheeler Market” report has predicted that the combined market for both motorcycle and scooter sales on the continent will eclipse $7 billion USD by 2021.

The growth of the motorcycle market in Colombia was on display earlier this year at the Feria de las Dos Ruedas in Medellín bike show. (Credit: Loren Moss)

The 261-page analysis looks at different locations and segments of the industry in South America. Its conclusion is that the story is largely similar across the board: There is a growing demand for scooters, a lack public transport infrastructure, and a rising young population that will combine to drive demand for two-wheelers.

The Colombian market is one of the brights spots. It is already the second largest in the region behind Brazil, and TechSci Research has projected steady growth for the nation, with the bulk of that coming from the already-established providers.

To shed some more insight on how the bike industry will grow in Colombia, Finance Colombia recently got the chance to speak with Karan Chechi, research director at TechSci Research.

Finance Colombia: Generally, what did the report find about the South American market overall?

Karan Chechi: The growing presence of various multinational companies — such as Honda, Suzuki, Yamaha, Bajaj, BMW, Lifan, and Kawasaki — coupled with increasing penetration of domestic players — such as Dafra, Motomel, Corven, Mavilla, and Zanella — is expected to intensify the South American two-wheeler market in the coming years.

Moreover, the introduction of supplementary features in prominent models is expected to moderately increase the average selling price of two-wheelers in the region. Therefore, escalating average selling price and rising sales of two-wheelers are forecast to boost revenue of South America two-wheeler market during 2016-2021.

Finance Colombia: The Colombian two-wheeler market, comprising both motorcycle and scooter sales, is already one of the largest in Latin America. How high do you see it getting by 2021?

Karan Chechi: The current size of the Colombian two-wheeler market was between 600,000 to 700,000 units in 2015. By 2021, the Colombian two-wheeler market is expected to rise to $1 billion USD to $2 billion USD in value terms, growing at a rate of 5% to 6%. In volume terms, we project it will rise to slightly less than one million units, growing at a rate of close to 3%.

Finance Colombia: How does the Colombian market compare, rankings-wise, to the likes of Brazil, Argentina, Chile, and the other big countries in South America?

Karan Chechi: Volume-wise, the Colombian market was one of the top markets in 2015 after Brazil. It has approximately 21% to 23% of volume market share, while Brazil had the largest volume share in a range of 40% to 45% in 2015.

We project Colombia to remain one of the top markets — even increasing its market share to close to 30% by 2021. Already, the Colombian two-wheeler market is way ahead of other countries including, Argentina, Peru, Ecuador, Chile, and Venezuela.

Finance Colombia: Are we seeing new players entering in Colombia? Or is the larger volume expected to come from established companies?

Karan Chechi: Yes, there are some new players that are entering. However, the projected growth in the industry by 2022 is expected to come from established players: Auteco, Incolmotos Yamaha, AKT Motos, and Suzuki, among others.

Backed by rising disposable incomes and inadequate road infrastructure, the market shares of the established players in Colombia are expected to rise by 2021.

Finance Colombia: So ultimately we should be expecting a lot of excitement here in Colombia in the coming years? A lot of progress?

Karan Chechi: At a brisk pace of 5% to 6% growth in value terms by 2021 — backed by an increase in purchasing power of Colombian citizens, expanding population, and bad roads — the Colombian two-wheeler market is expected to progress. It is poised to maintain its spot as one of the top markets in South America by 2022 and have a market share of 25% to 30%.