From my daily Axios (because it is free) email
Bike dealers ordered as if pandemic demand would last, and now they have way too many bikes, The Wall Street Journal reports (subscription).
High-end bikes for enthusiasts — which typically cost $1,500+ — still have wait times
A $1,500 bike for a bicycling “enthusiast”? The wannabe racing or endurance rider wouldn’t be caught dead looking at a bike under $2,500. Some are willing to pay up to $10,000.
The bike enthusiast wants a full carbon fiber frame; aerodynamic, light weight build; and the latest components. These are the folks you see on the country roads wearing Lycra shorts, special shoes, bright-colored helmets and tight-fitting jerseys.
$1,500 is a mid-level price for the industry. You won’t get a high-end bike. It will get you a solid all-purpose performer that you can ride on roads, bike trails and even gravel. It comes with a frame made of steel, aluminum or a carbon-aluminum mix. Some have electric-pedal assist. Think a Ford Mustang crossed with a Jeep Wrangler.
These aren’t the bikes Custard sees sitting unused in his neighbor’s garage. Those tend to be entry-level hybrid and comfort bikes (upright riding position, higher handlebar and wider seat). They probably cost $300 - $800.
The bike retailers and suppliers made a bet that bike sales would remain strong over the next few years. It’s always been a boom and bust industry. My guess is that overall bike ridership will decline from the pandemic peak. But it will remain strong in large cities with decent bike infrastructure like Chicago.
That’s probably not the newsflash you want to hear.
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