Bikes and the Fundamental Strength of Our EconomyBy Rocky Thompson on October 24th, 2008
Bicycle production, along with booze and gambling, appears to be recession proof. I’m no financial analyst, but I think it might have something to do with the high price of Hummers. If they could only get us those things a little cheaper now that gas is finally getting to reasonable prices again, our problems would be solved.
After a slow 2006, sales took off last year in Europe and America as fuel prices shot up. Suddenly a bicycle seems like the remedy for many modern ills, from petrol prices to pollution and obesity. Each market has its own idiosyncrasies. Europeans mainly use bikes for commuting, but have the odd habit of ignoring models made explicitly for that purpose in favour of sleeker, faster models which are then expensively modified. Americans prefer off-road BMX trail bikes. Taiwanese demand is led by racing-style bikes used for exercise.