Soon after EU referendum result was announced BikeBiz predicted that because the UK bike industry is dependent on imports there would be price hikes down the line, and so it has come to pass – Raleigh is to increase its prices by 10 percent from 1st August. The price increases will apply to both bikes and accessories.
An email to Raleigh dealers said the price increase was due to "recent volatility in currency exchange rates against the British pound." The email doesn't mention Brexit, but that was the cause for the softening pound.
"We have seen the cost of many products increase," said Raleigh's sales and marketing director Pippa Wibberley, adding "as we bring these products in to the UK on a daily basis this has impacted the cost of these products to us very quickly."
The price increases will be be for imported goods only. Prices for UK manufactured products supplied by Raleigh – such as Lusso clothing and GT85 lube – remain unchanged.
"Should you wish to bring any orders forward to take advantage of this position please do contact your Internal Account Manager," suggested Wibberley.
Consumers may wish to do the same – want a bike or parts not made in the UK? Buy soon because other suppliers will also be raising their prices thanks to Brexit, even if it is some months or perhaps years before the Lisbon Treaty's Article 50 button.