WASHINGTON (BRAIN) — U.S. bike imports through October were up 19% in units over a year ago, according to new U.S. Commerce Department trade statistics.
Importers are struggling to restock wholesale and retail inventories left depleted by the bike boom, exacerbated by low levels of imports earlier this year. Many importers say they are still finding it difficult to get bikes shipped from Asia, in part due to component shortages that prevent bikes from being completed.
Despite the difficulties, in October the industry imported 1,905,098 bikes, worth $139 million, down slightly from August and September numbers, but still about 37% above last October's figures.
Year-to-date through October, the average import cost of a bike was down about 9%, to $83.22.
So far this year the industry has imported 13.6 million bikes valued at $1.13 billion, compared to 11.4 million bikes valued at $1.0 billion in the same period last year.
