How can the Taiwanese industry sustain the financial losses it has accrued in 2024? - Photo Bike Europe

Taiwan on course for €500 mln e-bike export value loss

TAIPEI, Taiwan - The fact that the Taiwanese supply chain has struggled during 2024 is fully evident in the latest custom statistics. In Q3, the island nation exported around 75,000 e-bike units, a 44% drop compared to 2023. E-bike exports to the EU specifically dropped 55% to a mere 34,000 units between July and September. Most significantly, the country is on course to see its export value drop half a billion euros this year in total.

Volume and value of Taiwanese e-bike imports into the EU take significant dip in the first nine months of 2024. – Photo Bike Europe

EU e-bike imports drop 28% in first 9 months of 2024

ZEIST, The Netherlands - Imports of e-bikes into the EU reached almost 200,000 units in Q3 of 2024, almost matching the same volume of Q3 in 2023. Although there were signs of market recovery with an increase in e-bikes entering EU shores in Q2, the overall year-on-year decrease in the first nine months of 2024 is 28% compared to 2023. Perhaps more important, this is not counteracted by a higher import value.

E-bike exports to The Netherlands have plummeted according to preliminary figures for July 2024. In this market the impact of reducing the high inventory levels is not yet clear. This will only become apparent at the year-end closing in 2024. – Photo Bike Europe

Taiwan e-bike exports to key European markets under pressure

TAIPEI, Taiwan - Overall e-bike exports from Taiwan grew 5% between Q1 and Q2 of this year, according to the latest customs data. However, exports to Europe in the same period dropped 5%. More worryingly the trend looks set to continue as key markets in Europe see imports plummet in July.

Taiwanese suppliers emptying their warehouses to protect companies further down the supply chain is a potential explanation for significant drop in value per unit of e-bikes coming from the heavily interconnected island nation. – Photo Bike Europe

Asia offloading stock as EU e-bike import volume doubles in Q2

ZEIST, The Netherlands - Between April and June this year, the number of e-bikes imported into the EU rose to 223,000 units almost matching the same period last year. Significantly, this figure is almost double the amount imported in the first quarter of the year. All top 3 importing countries, Taiwan, Vietnam and China significantly increased the number of units entering the EU during this time period. However, at what cost?

With 57,366 units exported in Q1 2024, is the lowest Q1 export volume to EU markets from Taiwan since 2018. - Photo Shutterstock

Drop in Taiwan e-bike exports stabilising

ZEIST, The Netherlands - The volume of e-bikes exported from Taiwan has been in a constant freefall since January 2023. At this point it was clear that the market was flooded and delayed shipments were reaching weak purchasing markets. Throughout 2023, the number of e-bikes shipped from Taiwan dropped each month; from 102,575 in January to 37,597 in December. The latest Q1 figures of 2024 show signs of stability being resumed in the export market, albeit at a considerably low level.

Shipments of e-bikes to the EU-27 rose by 2.5% in Q1 2024 compared to Q4 2023, the latest Eurostat data shows. – Photo Shutterstock

Freefall ends as EU-27 e-bike imports stabilise

ZEIST, the Netherlands - With key markets reporting double-digit sales drops, inventories sky-high and heavy discounting attempting to rid the industry of burdening overstock, e-bike and bicycle imports into the EU nose-dived throughout 2023. With the first quarter of 2024 import data now available from Eurostat, a picture can be drawn of how this year's market might unfold… and there is a glimmer of hope.