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 very least quickly the lengthy decline of the two-century-old expertise.
“Though individuals put on masks within the subway, there are too many individuals within the automobiles particularly throughout rush hour,” a current bike purchaser mentioned. “I’ve been driving 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.”
Based on a report by the Hana Institute of Finance, gross sales of bikes within the first quarter jumped 45 p.c on yr.
Bikes have additionally been a superb various to individuals who nonetheless need to train whereas adhering to social distancing pointers.
A 42-year-old girl just lately bought a motorcycle for her elementary school-aged youngster. She mentioned she is apprehensive in regards to the results of staying residence for therefore many months because of the pandemic.
“Whereas staying solely at residence and never exercising, my youngster has gained lots of weight,” Kim mentioned. “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 p.c enhance on yr. The corporate posted 10.6 billion received in working income within the first half, a 507 p.c enhance on yr and a four-year excessive.
“Gross sales of bikes have been hovering,” a spokesperson for Samchuly Bicycle mentioned.
The usage of bikes for meals supply can be driving demand, as extra persons are ordering in because of the pandemic.
Demand has been so robust 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 p.c 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 recognition,” mentioned a spokesman for Emart.
BY KWAK JAE-MIN, CHEA SARAH [firstname.lastname@example.org]