Demand for electric bikes continues despite aid cuts and oversupply | Companies

The price comparator Idealo published a statement this Wednesday saying that demand for electric bikes in Spain fell by 70% between January and September. This figure may indicate a step back in the sector, but professionals do not confirm the data at street level: sales continue to rise, but businesses are fighting back. While it is true that lower prices are boosting demand, they acknowledge that increased political support and the creation of cycling infrastructure could boost sales further.

Sanferbike, which sells pedal-powered bicycles, contacted Cinco Diaz and says its sales have increased this year thanks to an “excessive” production of bicycles since the pandemic. “Right now there is an oversupply. Brands have had to eliminate electric bikes and cut prices by up to 30%,” adds the company, which sells primarily online.

LaBosch is another store that specializes in electric bikes, indicating sales growth. “We are very happy. After a difficult 2023, we are recovering in 2024,” comments the company, which has stores in Madrid, Barcelona, ​​Mallorca, as well as the Costa Brava and the Aran Valley.

Idealo’s research highlights that the price of electric bikes has fallen by 12.7% since 2022, reaching €1,966 in Spain, but this affects not only purchases, but also rentals.

Marco Calvino, general manager of the Zoomo platform in Europe, an Australian company that rents electric bikes in Spain, explains that the company’s business volume is up 50% this year compared to 2023. The company offers electric bikes to an average of 120 people. euros per month, in addition to maintenance. “People prefer to rent. “We have shown very good results this year,” adds a company representative. Moreover, “customers really appreciate the fact that we take care of car repairs,” he notes.

Lack of infrastructure

Despite the stabilization of demand, most companies surveyed highlight that the electric bike market could grow if infrastructure becomes more important in Madrid and Barcelona. “In Berlin, many parents rent cargo bikes to take their kids to school, but in Spain they are rented mainly for riding,” says Calvino.

This opinion is shared by electric bike shop Urban Zero, which has been operating in the Spanish capital for six years: “In Madrid we don’t have a situation where the bicycle is considered an alternative mode of transport, here it is more for leisure. “, indicates the company contacted by phone.

Subsidies, reduction

Urban Zero is the only store that has seen sales decline this year. “This year we recorded a loss of 15%,” explains the company’s salesperson. According to him, one of the reasons for the drop in sales is the reduction in subsidies allocated by the Community of Madrid. “Sales depend a lot on subsidies,” admits a seller who has sold more folding bikes than electric bikes this year.

Until the end of 2023, the Community of Madrid provided assistance of up to 600 euros to citizens wishing to buy an electric bicycle, but the program ended on December 31 and industry professionals are waiting for new applications. “The administration said a few months ago that they were going to launch it, but we are still waiting,” says a Sanferbike spokesperson.

Regarding the funds of the Madrid City Council, although most companies admit that “the subsidies have been very useful for the sector” and “increased sales”, the administration is now providing “more limited funds than before”, as the report highlights. Seller Urban Zero. Others confirm that the administration ran out of funds over the summer and closed the Sept. 31, 2024, deadline for requesting aid.