E-bikes bring value to challenged market

E-bikes bring value to challenged market

The European bicycle market ended up in the inevitable correction phase after the corona related sales boom. It goes without saying that this situation was expected, the question was only, when? While 2022 sales are lower than 2021 throughout Europe's main markets, the e-bike continues to drive the market. What's happening? This Online Magazine examines the market developments in 2022 and the impact this has on product developments expected at Eurobike.

Highlights in this latest online magazine (Issue 27 | June 2023) include:

  • Eurobike thrives on popularity of e-bikes
  • E-bike sales grow amidst market slowdown
  • German consumers more reluctant to buy
  • E-bikes boost turnover in key European markets
The financial situation for Bafang has not improved compared with 2023. – Photo Bike Europe

Bafang sales performance not recovering in over supplied market

SUZHOU, China - The oversupply in the industry, even for the category e-bikes, is still resulting in a slowdown in demand for component manufacturers. The excess inventory situation was already reflected at Taichung Bike Week last September but also came forward in Bafang's nine months earnings result which did not improve compared with 2023.

Larry Pizzi has been serving the bicycle industry in multiple roles since 1978. – Photo Bike Europe

Larry Pizzi appointed CEO at US e-bike retail chain Pedego

FOUNTAIN VALLEY, USA - Pedego, the largest chain of e-bike stores in North America, has announced the appointment of Larry Pizzi as its new chief executive officer (CEO) and member of the Board, effective November 18, 2024. Pizzi joins the company with over 20 years of operational leadership experience in the cycling and outdoor industry, succeeding Brian Stech. In addition, Cliff Moskowitz will be joining the Pedego Board of Directors.

Taiwan’s second largest bicycle manufacturer Merida’s Headquarters in based in Dacun Township in Changhua County. – Photo Merida

Merida revenue recovers but profit lags behind

CHANGHUA, Taiwan - In the first three sales quarters of the current 2024 financial year Taiwan's second-largest bicycle manufacturer Merida Industry Co. Ltd. generated total revenue of TWD 23.8 billion (€695 million). Compared to the first nine months of the previous year, this is a good increase of 5.8% in a persistently difficult and challenging environment.

myStromer is the second well known e-bike brand to pull out of the US market recently. – Photo myStromer

Leading e-bike brands discontinue North American business

OBERWANGEN, Switzerland - Yamaha was the first e-bike brand this month which announced it was pulling out of the US market due to oversupply and slow demand. It turns out that the Japanese are not the only one. myStromer AG also announced it will discontinue its business in the US and Canada with immediate effect.