Interest in bikes shows signs of ‘cooling down’, Shimano says, but demand still above pre-Covid levels – Business
Shimano has released its summary of consolidated financial results for the first nine months of fiscal 2022.
The company said demand for bikes remained above pre-Covid-19 levels, despite strong interest in bikes showing signs of cooling.
This segment’s net sales increased 20.6% from the same period a year earlier to 384,654 million yen, and operating income increased 21.6% to 109,119 million. of yen.
As for inventories of finished bikes on the market, Shimano said those of high-end bikes “remained low” as strong demand continued. Meanwhile, those of the middle-class bikes have approached “proper” levels, and those of the entry-class bikes have remained at a “high level”.
In the European market, excluding some areas where demand has cooled, Shimano said sales of bicycles and bicycle-related products “remained firm.” “Despite a shortage of products, particularly e-bikes and high-end road bikes, market inventory has approached appropriate levels,” the company said.
Shimano continued, “In the North American market, while inventory of high-end bikes, for which demand was firm, remained at a low level, demand for mid-range bikes tended to cool. In the Asian and South and Central American markets, interest in the bikes cooled. However, in the Chinese market, where sales remained strong, market inventories remained at a low level.
“In the Japanese market, although demand for sports bikes and e-bikes remained firm, inventories of completed bikes remained somewhat high, with the exception of entry-level road bikes. these market conditions, order intake has been rapid for a wide range of products, including the new Shimano 105 product which is a high-end model for road bikes, and components for sport e-bikes, Shimano series steps.
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Shimano introduced the new RX8 and RX8R gravel shoes earlier this month. Improving on Shimano’s featherweight RX8 gravel-racing shoe, the updated RX801 model offers a “more breathable design,” Shimano said, with a super-stiff and efficient carbon outsole.
The new RX801R gravel adventure running shoe offers all the performance features of the RX801 shoes, but with a snug-fitting knit ankle cuff. Shimano said the integrated gaiter eliminates the gap between the foot and the shoe for protection against the elements and provides “unparalleled comfort over long distances”.