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.
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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.
Cycling infrastructure does not force drivers to break the law, drivers are the reason they break the law, no one else.
Ah but taking pictures of things to defy the man (avoid a fine) is righteous. Taking pictures of people to grass on them to the cops (perhaps...
But getting paid for it is the very definition of professional....
Never had a Shimano QR fail on me. They just work. And the top end ones look good too....
If you're only looking at the guy in front of you then you're going to crash whatever brakes you have, you need to look beyond them to anticipate...
As a woman, this works great for me! My chain broke once, and a kind guy stopped with a chain breaker and sorted it all out for me. We stopped at a...
Same. I also have gone through a bunch of their tyres, and only the extralight disappointed (torn sidewall) but the standards are fantastic....
thanks for the ideas....
Indeed - but it's no more inconsistent than our current road design - very often UK high streets are "for shopping" and also a busy through route....
If you ask the world's leading economic commentators how many people have been rescued from abject poverty by capitalism the average answer would...