Bikes in High Demand Amid Epidemic
30 June, 2020
Demand for bicycles has spiked since the outbreak of coronavirus. The Korean bike sector, which had been battling a downturn due to the availability of public rental bikes, received a welcome fillip.
Bikes have become a favorite method of training and transportation amid social distancing.
According to a written report by Hana Bank in-may, sales of bikes in the united states increased 45 percent upon-12 months in the primary quarter. Normally, the first quarter of a time is the slowest period for bike sales because of winter and smog.
In fact, sales fell several percent in January, when the epidemic still hadn't made much of a direct effect, nonetheless they jumped 36 percent in February and 69 percent in March following the virus began to pass on rapidly and people began in order to avoid public transportation.
E-bikes are especially favored by commuters. Their revenue soared 34 percent on-year in the initial quarter, regarding to Samchuly Bicycle, the largest bike maker in the country.
Samchuly, which suffered a loss of W5.2 billion in the fourth quarter of last year, posted an operating revenue of W1.5 billion this first quarter (US$1=W1,201).
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