Citing the continued growth in the bike to work market, Dahon is on track to produce half a million bicycles in 2008, a nearly 30 percent increase from the previous year.
Dr. David Hon, president and CEO of Dahon, said: “We are fortunate to be in an industry that offers consumers an environmentally sound product that people are finding ever more relevant in economically trying times.
"It’s not just Dahon that is doing well however; other bicycle companies that are focused on higher-grade products are also doing well and that’s a very encouraging sign. We are seeing increasing numbers of consumers turn to bicycles for transportation and they are demanding better and higher quality products.”
Dahon’s sales were good in traditionally strong markets like Europe and the US but saw especially strong growth in Asia where governments have stepped up efforts to
increase bicycling infrastructure.
Dahon has also experienced a significant increase in the average price per bike as customers choose higher quality bicycles.
“Our 2009 pre-season orders are very strong and in fact we’ve already filled our current production capacity,” said Dr. Hon.
“The tight credit markets and large currency fluctuations are a concern though and we need to monitor these carefully. But on the whole, we continue to experience strong consumer demand. We’re very positive as we head into 2009 and are encouraged by the number of people looking to bicycles as a transportation solution.”