Riding Away with Savings: Germany's Dipping Bicycle Market Feeds Customers Sweet Discounts
Decrease in Bicycle Industry Revenue Leads to Advantages for Consumers - Decrease in bike sales – consumers reap advantages
Hey there!
Taking a wheelie turn: The swim in the bicycle market's cash flow has stopped flowing in Germany for the first time since 2019, as reported by the "Zukunft Fahrrad" association during their presentation in Berlin. It's not all bad news though, as customers can now look forward to killer deals!
"The year 2024 turned out to be somewhat of a slump, akin to the German economy as a whole, following the frenzy of the preceding years," they said. "Factors such as waning interest, price adjustments, and the aftermath of overstuffed warehouses had a hand in this descent."
Revenue tumbles
In 2024, the bicycle industry, encompassing manufacturing, trade, repairs, and services, earned a revenue of 27.2 billion euros. This is around seven percent less than the previous year (29.3 billion euros), according to the association. Direct employment decreased to 76,700 from 77,500 the year prior.
While the market has been sizzling with activity during the Coronavirus pandemic when cycling became an adored outdoor sport amid social distancing, it has cooled down considerably, almost doubling the industry's revenue between 2019 and 2023. Yet, during the peak years, many vendors stockpiled merchandise, leaving them with large inventories when demand dropped.
The outcome? Plummeting prices. The bicycle industry association informs us that the average price of an e-bike in 2024 was 2,650 euros, around 300 euros less than in the previous year.
Stability on the horizon
According to "Zukunft Fahrrad", the current business climate has been viewed more positively in recent months, and inventory levels are also showing signs of normalization. The durable business of leasing bicycles for firms continues to thrive.
Demand for Change
Before the industry trade fair "Eurobike" in Frankfurt (25 to 29 June), the association is urging government intervention for the expansion of bike lanes and more funding opportunities. Not only electric vehicles but also e-pedelecs should be supported as part of e-mobility efforts, with incentives for potential buyers.
In the words of Wasilis von Rauch, managing director of "Zukunft Fahrrad", "The bicycle industry has the potential to serve as the backbone of sustainable transportation." Its growing significance reaches beyond manufacturing, retail, and services and plays a pivotal role in tourism, for instance.
- Price Adjustments
- Revenue
- Bicycle
- Germany
- Berlin
- Future
- Coronavirus
- Financial Impact
- Frankfurt
- Leasing
[1] - http://www.zukunft-fahrrad.de[2] - https://www.neue-zürauer.de/[3] - https://www.fahrradmarkt.de/[4] - https://www.canyon.com[5] - https://www.reuters.com
In light of Germany's dipping bicycle market, customers can expect reduced prices as the average e-bike price in 2024 was lowered to 2,650 euros, a 300 euro decrease from the previous year. The financial impact of the market's decline has been evident, with the revenue in 2024 being approximately seven percent less than the previous year, at 27.2 billion euros.
