Bike imports up 24% in August

WASHINGTON (BRAIN) — The trade imported 1.7 million bikes in August, price $142 million — a 24% enhance in worth over the identical month final 12 months, however down $9 million from July’s numbers. 

Imports in June, July and August had been among the highest numbers the trade has seen since 2015. July’s bike import value of $151 million was the most important month since April of 2015, when the trade introduced in bikes price $180 million.

On the wholesale and retail degree the trade is struggling to rebuild stock left depleted by booming demand because the pandemic lock-downs started in March within the U.S., coupled with manufacturing unit closures in Asia within the first quarter.

In July and for the primary week of August, importers had an additional incentive to up the tempo: a 25% tariff on China-made bikes that took impact Aug. 7. 

The U.S. Division of Commerce launched the August import stats on Tuesday. The figures present imports of all bikes, together with these certain for mass service provider distribution. Most bikes bought within the specialty and mass service provider channels are imported.

There are few publicly obtainable figures for wholesale or retail bike gross sales, however the numbers which can be obtainable point out that demand continues to exceed provide. The speed of enhance in imports doesn’t match the rise in gross sales, a lot much less fill the empty warehouses.

Bike imports up 24% in August

The PeopleForBikes Promote-In Report, for instance, exhibits that wholesale bike gross sales to U.S. sellers had been up 27% in {dollars} in August in comparison with final 12 months, and up 35% year-to-date via August, in comparison with the identical interval in 2019.

Wholesale warehouses had simply 81,000 bikes readily available on the finish of August this 12 months, in comparison with almost 600,000 in inventory on the finish of August 2019.

And The NPD Group/Retail Monitoring Service studies that retail bike gross sales via impartial bicycle sellers had been up 49% in {dollars} within the 12 months ending in July. Most retailers say that whereas gross sales peaked in Might this 12 months, client curiosity continued via the summer season and fall at considerably larger ranges than in recent times.

Suppliers who’re trying to considerably enhance their bike imports this 12 months are bumping towards the trade’s capability limits, particularly for parts and different bike elements. Some part makers are taking orders for supply as far out because the second quarter of 2021.