Bicycle trade sees 50% spike in demand


Vijay C Roy
Tribune News Service
Chandigarh, July 17

Even as companies wrestle to realize their pre-Covid gross sales, the bicycle trade has witnessed as much as 50% enhance in demand in May and June. According to the All India Cycle Manufacturers Association (ACMA), the producers have been unable to fulfill the demand due to restricted manufacturing.

Quite a lot of components have propelled the demand, most significantly being the necessity for a protected mode of transport as a substitute for public transport. — Pankaj M Munjal, Chairman and Managing Director, Hero Motors firm

In May, gamers within the organised sector produced round 4.5 lakh bicycles by working at 35% capability whereas in June the trade produced 8.5 lakh items by utilising 65% capability.

“The manufacturers have seen increased demand across all categories. In cosmopolitan cities, it rose as much as 50% while in metros, the demand increased by 25%,” mentioned KB Thakur, secretary normal, ACMA. “The surge is particularly noticeable in the premium, semi-premium and recreational bike category which means more urban consumers are using bicycles. After the lockdown, we saw a 50% increase in demand for premium bicycles while the demand for e-bikes shot up by almost 100%,” mentioned Pankaj M Munjal, CMD, Hero Motors Company.

A significant surge has additionally been witnessed in leisure biking as lots of people are taking on biking as a health software. The shutting down of gymnasiums because of the Covid pandemic additionally motivated the folks to spend money on bicycles.



Be the first to comment on "Bicycle trade sees 50% spike in demand"

Leave a comment

Your email address will not be published.


*


%d bloggers like this: