Bicycle market plummeted 40%

Following the pandemic boom, the European bicycle market has plummeted 40% this year and the market for cheap bikes by 60%, reckons Slovak manufacturer Dema. Another domestic manufacturer, Kellys, is also talking about a drop in sales in the tens of percent. Demand for more expensive and electric bikes is holding up. Manufacturers are forced to offer significant discounts―they still have full warehouses, just as shops do. Dema has had significant redundancies and is addressing its financial woes with expensive loans.

(sme.sk)