FRIEDRICHSHAFEN, Germany – Despite an upcoming Eurobike Show that is again breaking all records, bike sales on in particular Europe’s biggest bike market dropped hard during the fist six months of 2006. The drop is estimated at 15% by industry insiders.
"Total turnover in bikes and P&A in the first half of 2006 was 1.5% lower than in the same period last year," according to Uwe Krüger, Manager of BBE Unternehmensberatung, an industry information service. Figures from the German industry association ZIV indicate that a total of 939,000 bicycles were produced in Germany in the first three months of this year; compared to 1,008,000 units produced in the first quarter of 2005, this represents a drop of 7.4%.
Mifa is one of the bike makers that saw its sales hampered by bad market conditions in Germany due to miserable Spring weather and the soccer World Cup. In a recent press release on the first six months financial results the Mitteldeutsche Fahrradwerrke AG reported total sales of 478,000 bicycles which is down 8.8% on the total for the same period in 2005. Mifa’s revenues dropped even more; by 13.5% to € 59.66 million.
Also Shimano is suffering from the slump in bike sales on Europe’s biggest market. Today Shimano was the biggest loser on the Tokyo Stock Exchange with shares dropping 8.7% after the parts maker reported lower profits in the half year to June. Shimano has also cut its full-year net profit forecast due to rising raw material cost and price competition.
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