LONGMONT, Colo. (BRAIN) — Cannondale told its U.S. dealers Friday that it would launch a bike discount promotion in March and April, similar to that announced by Specialized, Trek and Giant recently.
A Cannondale dealer told BRAIN Friday that he was told the company was discounting about 40 models of road and mountain bikes by about 20 percent at retail and 15 percent at wholesale. The discounts will be available until the middle of April, and July terms will be extended on orders made before the end of March. Retailers who sell their existing inventory at the reduced retail price during the sale can get a credit to their account that will make up for the loss margin.
Another industry source who has seen Cannondale emails regarding the promotion confirmed what the dealer told BRAIN.
On Monday, Cannondale released a statement to BRAIN regarding the promotion:
"Our retailers have made significant commitments to our brands. We will continue to invest and protect our dealer base to ensure their success, despite the challenging environment that's been created. Our spring promotion was launched to help our retailers provide consumers a reason to buy. The Cycling Sports Group program is well-rounded, focusing on retailers, shop employees and consumers. We know that our offering is compelling and we are optimistic for the remainder of the year, especially with the strength of our product. We are not interested in joining in on the finger pointing that has taken place between the other major suppliers, but rather staying focused on working with our dealers to make this selling season a success."
