Interest in bikes shows signs of ‘cooling down’, says Shimano, but demand remains above pre-Covid levels

Shimano has published its summary of consolidated financial results for the first nine months of FY2022.

The company said demand for bicycles remained above the pre-Covid-19 levels, despite the fact that strong interest in bicycles showed signs of cooling down.

Net sales from this segment increased 20.6% from the same period of the previous year to 384,654 million yen, and operating income increased 21.6% to 109,119 million yen.

In terms of market inventories of completed bicycles, Shimano said those of high-end class bicycles ‘remained at a low level’, as strong demand continued. Meanwhile, those of middle-class bicycles approached ‘appropriate’ levels, and those of entry-class bicycles remained at a ‘high level’.

In the European market, excluding some areas in which demand has cooled down, Shimano said sales of bicycles and bicycle-related products ‘remained firm’. “Despite a shortage of products, especially e-bikes and high-end class road bikes, market inventories approached appropriate levels,” said the company.

Shimano continued: “In the North American market, while market inventories of high-end class bicycles, for which demand was firm, remained at a low level, demand for middle-class bicycles tended to cool down. In the Asian and South and Central American markets, interest in bicycles cooled off. However, in the Chinese market, where sales remained strong, market inventories remained at a low level.

“In the Japanese market, although demand for sport bikes and e-bikes remained firm, market inventories of completed bicycles remained somewhat high, except for those of entry-class road bikes. Under these market conditions, order-taking was brisk for a wide range of products, including the new product Shimano 105 that is a high-end model for road bikes, and sport e-bike components, Shimano Steps series.”

Read more: Great Britain Cycling Team opens new wind tunnel in Manchester

Shimano earlier this month introduced the new RX8 and RX8R gravel shoes. Enhancing Shimano’s featherweight RX8 gravel race shoe, the updated RX801 model delivers a “more breathable design”, said Shimano, with a super stiff and efficient carbon outsole.

The new RX801R gravel adventurous racing shoe delivers all the performance features of the RX801 shoes but with a snug-fitting knitted ankle cuff. Shimano said the integrated gaiter eliminates the space between the foot and shoe for protection from the elements and provides ‘unparalleled long-distance comfort’.

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