Shimano suffers huge fall in sales, down a quarter in first months of 2024 amid continued bike industry troubles

Shimano suffers huge fall in sales, down a quarter in first months of 2024 amid continued bike industry troubles

Consequently, Shimano's outlook for the entire year expects sales to fall to JP¥325,000 million from JP¥364,700 million ,reports, with the European market likely to be hit hardest, sales expected to drop from JP¥186,600 million to JP¥153,000 million , a decrease of more than £170 million.

The German, Dutch and Belgian bike market was seen as strong, whereas other European countries are still said to be battling high inventories due to a cooling in customer confidence because of inflation and a challenging economic picture. Likewise, the North American market experienced a softening in demand coupled with high inventories.

Adding further concerning context, Shimano's low first quarter sales are in comparison to those of the same time period last year that were themselves If you don’t want to subscribe, please turn your ad blocker off. The revenue from adverts helps to fund our site. “They would never block a whole road without permission”: London Marathon organisers slammed for blocking cycle lane, forcing cyclists “into oncoming traffic”

Source: News Formal (newsformal.com)

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