Dutch Bicycle Sales Continue To Grow in 2021

According to the Dutch Financial Newspaper (Financieele Dagblad), the Dutch bicycle manufacturer’s share price continues to soar despite delays in supply delivery and manpower shortages.

Since January 2021, the share price of the Dutch bicycle manufacturer Accell Group has risen sharply by 44%. During the outbreak of the new crown epidemic, when fitness centers were forced to close, many people turned to bicycles to exercise. Sales of electric bicycles and other more expensive bicycles grew as a result, and many people used bicycles to replace public transportation. However, sales are being affected by supply chain issues, especially parts from Asia. Due to the shortage of labor caused by the new crown epidemic, the delivery of parts has been delayed, sometimes even as long as 400 days.

According to data from the Dutch automobile industry associations RAI Vereniging and Bovag, the Dutch bought 1.1 million new bicycles in 2020, a 9% increase from 2019, of which electric bicycles accounted for half. Due to the high cost of electric bicycles, total bicycle sales in 2020 reached 1.65 billion euros, an increase of 31% over 2019, of which sales of electric bicycles increased by 30%.

In addition, Amsterdam bicycle manufacturer Van Moof raised another $128 million in funding in September. The company is known for its mat black bike frames and streamlined design, and its goal is to become a global leader in electric bike brands.