WASHINGTON, USA – Contrary to Europe the US bicycle market is badly hit by the economic downturn. According to the latest figures the import of bicycles during the first quarter of 2009 saw a dramatic drop of 30.8% related to last year.
In units the Americans imported 1.1 million bicycles less this year. Remarkably the average value increased by 37.2% in the same period. The average FOB value now stands at € 63.36 (US$ 96.60) against € 46.18 (US$ 70.41) in 2008.
The 27-inch and road-race segments are only ones that continue to grow. In the reported period sales in units went up by 16% in units and 28% in FOB dollar value during the first quarter of this year compared to the same period last year. However is unclear if this category is either growing in consumer sales, or backing up in wholesale and retail inventories.
In the past eleven years the US bicycle import during the period January-March has never been so low in units. However, the FOB dollar value in the same period is the second highest in eleven years and the average FOB unit value is the highest over the past decade.
Generally the first quarter US bicycle imports represent an average of 20% of the total annual imports each year. Accordingly the first three-months represents one-fifth of the total years units. The second quarter imports will be more important in determining the course of total U.S. bicycle imports and market consumption in 2009.
3-Month YTD Total US Bicycle Imports 2009 vs 2008
|
|
Total Units
|
Total FOB Value US$
|
Average FOB Unit Value US$
|
|
3-Month YTD 2009
|
2,598,793
|
$ 251,046,040
|
$ 96.60
|
|
3-Month YTD 2008
|
3,755,228
|
$ 264,424,093
|
$ 70.41
|
|
Variance
|
-1,156,435
|
-$ 13,378,053
|
$ 26.19
|
|
Variance %
|
-30.8%
|
-5.1%
|
37.2%
|
Source: Gluskin Townley Group, LLC
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