Decline in sales of bicycles: 4.3 percent decline in roadster of poor laborers, huge loss in kids segment

 | 
cxcx

The effect of the economic plight created during the Corona period is gradually visible in all sectors of the economy. In the financial year 2021-22, the sale of bicycles has decreased by about six per cent as compared to the previous year. In the financial year 2020-21, a total of 1,21,65,800 cycles were sold in the country, while in the last financial year only 1,14,37,826 cycles were sold. Roadster bicycles, which are seen as the benchmark of the rural economy, have also registered a decline of 4.3 per cent. This is being told as a result of the poor economic condition of the villagers and workers. Similarly, sales of fancy cycles and children's cycles have also declined. The worst effect of the deteriorating economic situation has been on the segment of children's bicycles. Due to poor economic conditions, people kept away from buying bicycles for children and due to this the kids cycle segment recorded a record shortfall of more than 38 per cent. Whereas in the previous year, this segment registered a growth in sales.

vcvc
What do the figures say?
According to information received from the All India Cycle Manufacturers Association (AICMA), a total of 1,21,65,800 cycles were sold in the country in the financial year 2020-21. But in the last financial year, there was a decrease of seven lakh 27 thousand 974 (about 5.93 percent) in the sale of cycles. According to the organization's data, a total of 1,14,37,826 cycles were sold in the country during the financial year 2021-22.

Poor condition of rural economy, decrease in sales of roadster cycles
Over the years, the sales of roadster cycles have remained at the top as before. In 2020-21, all the companies together had sold 48 lakh 42 thousand 649 roadster cycles, while in 2021-22 this number decreased to 46 lakh 33 thousand 541. This decrease is 4.3 percent less than the previous year. Since the demand for bicycles in this segment is highest in rural areas, the decline in sales of these cycles is a cause for concern. Generally, people from rural and poor sections buy this category of bicycles the most for commuting and for carrying goods etc. The reduction in the sales of this category of bicycles is also seen in terms of lack of employment and money for them. In this context, the decline in sales of roadster cycles is a matter of concern for the country.

Fancy Bicycles also sold less
After the roadster bicycles, the number of best selling bicycles is that of the fancy bicycles. Among the bicycles in this segment, the bicycles sold for school going girls and women are the most prominent. Last year also it stood second in total bicycle sales. A total of 40 lakh 54 thousand 174 fancy cycles were sold during this period. However, their sales have also come down. In the year 2020-21, this sale was 41 lakh 22 thousand 337.

The biggest decrease in the sale of children's bicycles
The biggest decrease in percentage in terms of sales of bicycles was recorded in bicycles sold for children. In the category of bicycles sold for children, 20 lakh 13 thousand 691 bicycles were sold in 2020-21, but in the last year 2021-22, this number has come down to only 12 lakh 39 thousand 342. In this way, a decrease of seven lakh 74 thousand 349 was registered in the sale of children's cycles. It is 38.45 percent as compared to the previous year.

cxcx

Foreign exports increased
On one hand, while the sale of bicycles in the Indian market declined, the sales of bicycles exported to foreign countries registered an increase. In 2020-21, 7,83,877 cycles were exported to foreign countries, while a total of 9,71,049 cycles were sold in 2021-22. An increase has also been registered in the sale of other categories of bicycles including sports, disabled. In 2020-21, 4,03,246 cycles were sold in this category, while 5,38,414 cycles were sold in 2021-22. A total of 1306 units of paddleless e-cycles were sold in 2021-22.