OSAKA, Japan (BRAIN) — Robust European e-bike sales and an average year for bike sales in North America led to a 6.8 percent sales increase in Shimano’s bike division in the first half of 2018, the company said Monday.
Bike-related sales were 137.9 billion yen ($1.24 billion) in the half. Operating income in the half year was up 9.0 percent to 29,506 million yen.
“In Europe, driven by the stable weather after April and retail sales of completed bicycles of e-bike that have been robust, distributor inventories of bicycles remained at an appropriate level,” the company said. “In North America, retail sales of completed bicycles were on par with an average year, and distributor inventories remained at an appropriate level.”
The company said sales of completed bicycles showed no signs of recovery in China, where retail sales of low-end and middle-range bicycles continued to be sluggish. “On the other hand, bike sharing that spread widely in urban areas (of China) last year is facing a period of realignment,” the company said.
Shimano also said Southeast Asia “lacked vigor,” …read more