LONDON, UK - When looking for an indication of how dire the current market situation is in the bike industry, look no further than the recent financial results of folding bike manufacturer, Brompton. The renowned British manufacturer has reported a dramatic decline in profits, plummeting from £10.7 million (€ 12.9 million) to just £4,602 (€ 5,543) for the fiscal year ending March 2024.
Cyclists interested in fully automatic gear systems will soon find a new option on the market. By the end of 2025, Peyman bicycles featuring the latest version of the Peyman CVT transmission system are set to launch.
REDDITCH, England - With a current strategy of "controlling the controllables," the UK's largest bicycle retailer Halfords continues to face challenging conditions. With poor weather conditions in spring and summer affecting sales, the retailer failed to meet pre-COVID sales levels in its cycling department in the first 26 weeks of the current financial year which started 1 April.
LONDON, UK - Award-winning e-bike brand Gocycle has started a crowdfunding campaign to launch its new range of urban folding bikes. Founder and CEO of Gocycle owner Karbon Kinetics Ltd Richard Thorpe explains why he turned to this tentative way of funding, having founded the company already in 2002. "Institutional capital has fled most industries including bike companies, as well as small innovators like Gocycle."
OXFORD, UK - The annual E-bike Summit held in Oxford is now in its sixth year. The event is unusual in that it brings together manufacturers, retailers, politicians and trade bodies in one high-level gathering. Top of the agenda this year was removing the barriers to e-bike adoption in the UK.
LONDON, UK - The anti-dumping duty on bicycles and bicycle parts from China in the UK is now also under review. Last May the British Trade Remedies Authority already advised to revoke the anti-dumping duties on China made e-bikes in a preliminary recommendation. In case the same would be suggested for bicycles, it would bring a lot of uncertainty in the UK.
