BMW, Honda, Suzuki: Staggering Revenues but Minuscule Compared to Their Auto Divisions

By Alexis Delisse | Published January 19, 2024

BMW, Honda, and Suzuki are three iconic brands in the motorcycle world, but their automotive divisions undoubtedly dominate their revenue streams. Just how significant is this disparity, and what are the actual figures involved? We’ve delved into their financial results to bring you the full picture!

Introduction

It’s often said that the motorcycle industry is small compared to the automotive sector, but is this really the case? The number of motorcycles on the road pales in comparison to cars, especially in Western countries, with an estimated 1.5 billion cars worldwide. Nonetheless, we were quite surprised to discover the revenue generated by the motorcycle divisions of BMW, Honda, and Suzuki, especially when compared to their automotive departments. Spoiler alert: we’re talking about tens of billions of euros…

BMW: The High-End Giant Driven by Premium Cars

BMW cultivates both its car and motorcycle products in a premium fashion. Financial assistance programs such as leases and loans are abundant to help customers drive German vehicles.

With a long-standing reputation in both the automotive and motorcycle sectors and a high average price for its premium-segment vehicles, BMW leads in revenue among these three brands. In 2022, the group, which also includes Mini, Rolls Royce, and a significant financial services division, reported a staggering revenue of €142.6 billion, accompanied by over €23 billion in profits. Unsurprisingly, the automotive department contributed €123 billion of this revenue from selling 2,382,000 vehicles. In comparison, the motorcycle division generated “only” €3 billion in revenue, with €269 million in profits, thanks to the sale of 215,000 motorcycles.

BMW (Automotive Division): €123 billion in revenue, €19 billion in profits
BMW (Motorcycle Division): €3 billion in revenue, €269 million in profits

Honda: The Japanese Giant Where Motorcycles Hold Significant Weight

Honda’s market presence varies significantly across different continents. In the USA, Honda cars are far more popular than their motorcycles, with the notable exception of the Goldwing. In France, motorcycles have a stronger reputation.

In the past year, Honda surpassed the €105 billion revenue mark, reinforcing its dominant position. The automotive division alone brought in €66.329 billion, while the motorcycle division impressively generated €18.214 billion in revenue. North America remains Honda’s largest market, followed by Asia, with Europe contributing around 4% of its revenue (€4.23 billion). India stands out as Honda’s largest motorcycle market, with nearly 5 million two-wheelers sold in the country alone. Overall, Honda sold more than 18 million motorcycles and scooters worldwide in 2023.

Honda (Automotive Division): €66.329 billion in revenue
Honda (Motorcycle Division): €18.214 billion in revenue

Suzuki: Larger Volumes Than Expected

Suzuki has long recognized that the automotive sector is more economically advantageous. The rise of Chinese manufacturers in the two-wheeler market is a significant concern for Japanese brands, including Suzuki. This competition is also felt in the automotive market with rivals like Kia and Hyundai from Korea.

While Suzuki might seem like the underdog compared to BMW and Honda, it holds its ground with a total revenue of €29 billion. The automotive division accounts for €26 billion of this, thanks to the sale of 3 million cars, primarily in India and Japan. Europe contributed €2.6 billion to this figure. The motorcycle division also shows respectable results with 1,859,000 two-wheelers sold, generating €2 billion in revenue, largely from the Asian market. Europe’s contribution to this is a more modest €245 million. These figures shed light on Suzuki’s recent strategy shift, having previously focused more on automobiles but now reinvesting in motorcycles in Europe.

Suzuki (Automotive Division): €26 billion in revenue
Suzuki (Motorcycle Division): €2 billion in revenue

Conclusion

While the motorcycle divisions of BMW, Honda, and Suzuki generate impressive revenues, they are dwarfed by the colossal figures from their automotive counterparts. This financial disparity highlights the global dominance of the automotive sector. However, the motorcycle market continues to hold significant value, especially in regions where two-wheelers are a primary mode of transportation.

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