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Spain reports drastic change in bicycle production volumes

MADRID, Spain – The value of bicycle production in Spain increased by 8.8% to €126.4 million in the first half of this year. In this period, a total of 171,218 bicycles were manufactured, representing a growth of 4.1% compared to the same period of 2021. However, the provisional figures from the Ministry of Industry, Commerce and Tourism show big monthly differences.

The accumulated figure for the first six months of the year has been positive thanks to the 57.2% increase in the first quarter of the year, when the value of bicycle production reached €64.2 million. In this period the production volume increased by 31.6% to 86,618 units. In the second quarter the situation changed drastically. In 2021 the situation was very different when Jesús Freire, Secretary General of AMBE still said: “The bicycle industry contributes decisively to the industrialisation of Spain, creating high quality jobs and new business opportunities.”

It is too early to conclude that the data shows a slowdown in the cycling boom, compared to last year, when factories had to adapt to the demand for bicycles caused by the pandemic. The increase in supply costs is a problem currently affecting manufacturers and might have an impact on the long term.

Drastic change

In April, production fell by 23.4%, to €16.9 million compared to the same month last year; in May the drop was 15.8%, to €23.9 million; while in June it dropped 13.9%, to €21.4 million. In the second quarter as a whole, the decrease was 17.4%, to €62.2 million. Also in volume, the situation changed dramatically: only 84,600 units were made, 14.2% less than in the same period last year.

At the start of 2022 it looked like the industry could continue its monthly growth figure of last year. In 2021, the production of bicycles registered double-digit increases in all months of the year. But since April the trend has changed.

Average price remains stable

For the moment, the reason for this drastic change is unclear. Probably the war in Ukraine made both retailers and consumers more hesitant when it comes to big spendings. The average price per bicycle manufactured in the first semester stood at €738. The average price in 2021 was €748, while before the pandemic, this amount was €548.

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