US Bike Market Hits Decade Slump
USA (derailedonline.com) - Reports from the first quarter of 2009 bicycle sales in the US are in with some interesting statistics that reflect the recession the entire US market is currently undergoing.
According to this report written by Bike EU bike sales are at the lowest point in over a decade - 11 years to be exact.
The most notable statistic is that bike sales volumns dropped from 3,755,228 units in Q1 2008 to 2,598,793 in Q1 2009, a 30.8% drop in sales; however, despite the decline in overall sales numbers the value of bikes per unit rose from $ 70.41 in 2008 to $ 96.60 in 2009, a 37.2% rise in value.
European markets are however the exact opposite of American bicycle markets. Countries such as England are seeing a very sharp rise in sales to the point that the bicycle industry is booming in Europe. Sales numbers are on a steady rise with no current signs of declining.
The second quarter results will be the most important to the US market. Bike shops and retail outlets begin to sale more bikes once spring begins in the US. If those numbers don't show very much growth over the Q1 figures, we are in for a bad year.
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Posted on May 27, 2009 08:14:52 -0400 by Brady.