BUDAPEST, Hungary - The Central European country Hungary is known in the industry as the location for the production facilities of Accell Hunland and Giant Manufacturing Hungary Ltd. In an exclusive interview, Róbert Sipiczki, president of the Association Hungarian Bicycle Producers and Traders (AHBPT) elaborates on the difficult local market situation due to limited sales with the most negative dynamics in the lower price brackets.
OFFENBACH, Germany - Rumours had been swirling recently that another Germany e-bike manufacturer was facing financial problems, and this was confirmed yesterday when Advanced Bikes GmbH officially filed for insolvency. This insolvency reflects the problems the European industry is currently facing.
WELS, Austria - Pierer Mobility AG, the owner of bicycle and e-bike brands Husqvarna, GasGas and Felt has announced that it will apply for debtor-in-possession restructuring proceedings for its motorcycle subsidiary KTM AG on Friday. KTM AG's financing requirements are "currently in the high three-digit million euro range."
TAICHUNG, Taiwan - Even though the first three sales quarter revenue of NT$1.91 billion (€55.66 million) was 32.5% lower than in the same period of the previous year, Taiwan's bicycle manufacturer Ideal Bike Corporation has been able to reduce its loss by 34.4%. The crisis at Taiwan's third largest bicycle producer is still rooted in the 2023 insolvencies of two of its major customers Advanced Sports GmbH and VanMoof.
SUZHOU, China - The oversupply in the industry, even for the category e-bikes, is still resulting in a slowdown in demand for component manufacturers. The excess inventory situation was already reflected at Taichung Bike Week last September but also came forward in Bafang's nine months earnings result which did not improve compared with 2023.
FOUNTAIN VALLEY, USA - Pedego, the largest chain of e-bike stores in North America, has announced the appointment of Larry Pizzi as its new chief executive officer (CEO) and member of the Board, effective November 18, 2024. Pizzi joins the company with over 20 years of operational leadership experience in the cycling and outdoor industry, succeeding Brian Stech. In addition, Cliff Moskowitz will be joining the Pedego Board of Directors.
CHANGHUA, Taiwan - In the first three sales quarters of the current 2024 financial year Taiwan's second-largest bicycle manufacturer Merida Industry Co. Ltd. generated total revenue of TWD 23.8 billion (€695 million). Compared to the first nine months of the previous year, this is a good increase of 5.8% in a persistently difficult and challenging environment.
OBERWANGEN, Switzerland - Yamaha was the first e-bike brand this month which announced it was pulling out of the US market due to oversupply and slow demand. It turns out that the Japanese are not the only one. myStromer AG also announced it will discontinue its business in the US and Canada with immediate effect.
To support its rapid growth, Tracefy recently expanded its management team. Ferry Post has been appointed as sales director and Greg Schouten as technical director. This allows Niels Penning, as general manager, to focus more on overall company leadership, while Jeroen van Kester, director of marketing and new business, will concentrate on international markets and opportunities for Tracefy's GPS solutions beyond the bicycle industry.
SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.
DRESDEN, Germany - Online retailer Bike24 reports a year-on-year revenue increase of 2.9% to €62.89 million from July to September 2024. In this quarter the category fully assembled bicycles saw a 6% revenue growth to an all-time high of €13.4 million. According to Bike24, "this is the result of our choice for a large brand portfolio and attractive price points."
SCHWEINFURT, Germany - No other product in the industry is so sorely missing validated market data than e-bike drive systems. The market dominance of Bosch is obvious, but what about the other suppliers and how many other brands are relevant anyway?
