Giant Group the world's largest bicycle designer and manufacturer reported sales are up 14 per cent in the first three quarters of 2022 compared with last year.
Despite citing challenges such as an increase in the cost of raw materials, logistics and labour, Giant was aided by the strength of the US dollar, Bicycle Retailer reports, leading to net income pre-tax growth of 9.9 per cent in its latest financial results.
Net income after tax is reported to have grown 16.5 per cent to NT$5.63 billion (New Taiwan dollar), with earnings per share at NT$15.01.
> Giant launches "fastest ever" Propel aero road bike range
Giant suggested there is still a shortage in performance-level products, but said in general inventories are improving across Europe and North America.
Addressing concerns the demand for bicycles might have slowed since the pandemic, Giant admitted "[market demand] has cooled down compared to the past two years" but the company "sees the great potentials for the cycling industry" as world governments prioritise environmental and health-focused policies.
At the end of October, Shimano — the world's biggest manufacturer of bicycle components — reported its summary of financial results for the same period Giant did above and similarly saw healthy increased sales despite demand "showing signs of cooling down".
Shimano said: "During the first nine months of fiscal year 2022, the pace of global economic recovery slowed primarily because prices soared due to resource and energy supply constraints and rising resource prices caused by the situation in Ukraine, and central banks in various countries took steps to raise interest rates sharply to curb accelerating inflation."
Lifting of Covid restrictions in Japan and "a solid employment environment and rising wages" in the US had led to increased personal spending and steady personal consumption in the two countries respectively.
Net sales in the bicycle division are up 20.6 per cent on the first nine months of 2021, totalling 384,654 million yen.
I did the four windows on my Victorian flat. I replaced the parting beads (between the panes) and the staff moulds with new timber ones that have a...
Back in the 70's and 80's I was doing quite physical work in an environment of over 40ºC for hours at a time, sweating like a herd of pigs.The...
Well, I don't have any insight into how all consuming being a professional cyclist is and so how much you have to put your faith in your advisors,...
.
In the comments "Was it due to icy conditions? "
Shurely "Place with large concentrations of bikes (and presumably thriving second hand market) in bike theft hotspot shock"?...
Finding solutions to US school drop off: Our school has 2 VIP parking spots they auction off at their fundraiser. So, I got one 😁 - and made it...
Marsh lane was unchanged on Friday - I don't think the contractors have been back since the protest.
She did say (in comment) they'd suggested to the council to make this access and emergency vehicles only and the council said no....
My guess is that they sell mainly on the German market - feel free to correct me. That might explain why they are not "pushing" their products,...