Shimano says demand for bikes still higher than pre-pandemic despite 'signs of cooling down': bike component giant's net sales increased 20.6% from last year, and reported high-end bikes are still in short supply yet entry-level ones plentiful... cycling
Shimano, the world's biggest manufacturer of bicycle components, has reported its summary of financial results for its first nine months of trading in 2022. The Japanese corporation saw a healthy increased sales in 2022 compared to the previous year, yet commented that demand for bicycles "...remained firm, although showing signs of cooling down.
What has this all meant for Shimano's coffers? Nothing too bad at all, by the sounds of it, as the company's net sales in its bicycle division are 20.6% up on the first nine months of 2022 compared to the previous year, raking in a whopping 384,654 million yen. While the reported"cooling down" in interest in bikes could appear worrying, the demand is reported to be above pre-pandemic levels, which suggests people who have taken up cycling in some form in the last two years are sticking around.