PxPixel
Steel price hikes make for costlier Indian bikes - BikeBiz

Steel price hikes make for costlier Indian bikes

Hero Cycles, Atlas and TI Cycles have increased prices of their bicycles by 4 percent, with more prices rises on the cards. Bike prices are likely to increase worldwide as the global steel shortage continues to bite. And it's not just gas-pipe steel bicycle frame-tubes that are in short supply, raw materials of all types - rubber, alloy, cardboard, everything - are being gobbled up by the fast-growing Chinese economy.
Author:
Publish date:

India's Business Standard newspaper reports that Hero Cycles, Atlas and TI Cycles are planning another round of price hikes later this month to cope with higher production costs.

Hero Cycles of Ludhiana produces 5.6 million bicycles a year and is market leader in India, controlling over 50 percent of the domestic market for bicycles.

Sanjay Kapur, co-president of Atlas Cycles, based in Haryana, said continued price hikes look likely:

“The consumer has to bear the brunt of higher steel prices."

Indian bicycle manufacturers produce 12.4 million bicycles a year, of which a million units are exported.


http://www.business-standard.com

Featured Jobs

the cycle hub

Showroom Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Tuesday 26th June 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

CRC_Logo_620x349-1

Bike Technician

Chain Reaction Cycles I Ballyclare I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018

Canyon_Logo_1(1)

Brand Content Writer

Canyon Bicycles GmbH I Koblenz, Germany I Salary: Up to €38,000 I Date Published Tuesday 3rd July 2018

CRC_Logo_620x349-1

Retail Sales Advisor

Chain Reaction Cycles I Belfast I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018