The bike is again as folks pedal via the pandemic
The bicycle is making a comeback because the Covid-19 pandemic leaves different modes of transportation, together with the subway and the bus, as comparatively dangerous choices. A increase has resulted, halting at the least briefly the lengthy decline of the two-century-old expertise.
“Though folks put on masks within the subway, there are too many individuals within the vehicles particularly throughout rush hour,” a current bike purchaser stated. “I’ve been using a motorcycle to work since a month in the past. It makes me really feel actually good, as it’s protected from the coronavirus, in addition to a great way of exercising each morning and night.”
In response to a report by the Hana Institute of Finance, gross sales of bikes within the first quarter jumped 45 % on 12 months.
Bikes have additionally been a very good different to individuals who nonetheless need to train whereas adhering to social distancing pointers.
A 42-year-old lady just lately bought a motorcycle for her elementary school-aged youngster. She stated she is fearful in regards to the results of staying dwelling for thus many months because of the pandemic.
“Whereas staying solely at dwelling and never exercising, my youngster has gained numerous weight,” Kim stated. “With emergency reduction grant cash, I purchased a motorcycle for my youngster. My household is having a motorcycle picnic each weekend.”
Samchuly Bicycle, one of many largest bike producers in Korea, introduced Wednesday 77 billion received ($64.8 million) in first-half income, a 35 % enhance on 12 months. The corporate posted 10.6 billion received in working income within the first half, a 507 % enhance on 12 months and a four-year excessive.
“Gross sales of bikes have been hovering,” a spokesperson for Samchuly Bicycle stated.
Using bikes for meals supply can also be driving demand, as extra individuals are ordering in because of the pandemic.
Demand has been so sturdy that bikes have been in brief provide since March. Even previous inventory has been transferring quick. The shortages had been exacerbated by the shutting of factories in China.
The rise of electrical bikes and scooters has not helped.
Shares of Kosdaq-listed Samchuly Bicycle misplaced 85 % of their worth from a current peak in 2016 to early 2020. They’ve since greater than doubled in worth because the pandemic led to a mini renaissance in bicycling.
Since mid-August, Emart has been promoting Samchuly Bicycle’s bikes in its 50 branches throughout the nation.
“Bikes, out of public eye for the previous 4 years, are gaining reputation,” stated a spokesman for Emart.
BY KWAK JAE-MIN, CHEA SARAH [email@example.com]