Electric bikes are still selling like crazy, and it might even increase soon

E-bike sales have been growing around the world for years, with the United States seeing particularly drastic year-over-year growth. But never before have we witnessed the kind of colossal growth brought on by the COVID-19 pandemic. And according to industry leaders, there are no signs of slowing down.

When the pandemic hit the United States hard about 18 months ago, most industry players assumed the waters would be choppy.

The truth turned out to be the exact opposite, at least in terms of sales. The numbers have absolutely skyrocketed as e-bikes fly off the shelves across the country and around the world.

Of course, it wasn’t all easy. New problems have arisen in the industry due to rapid growth. But strong sales figures have continued and there are no plans to return to lower sales levels before the pandemic.

As e-bike company Pedego CEO Don DiCostanzo explained to Yahoo Finance:

“Let’s face it, anything electric is just hot, whether it’s cars, now planes, trains. Electric bikes are probably the fastest growing segment of all these categories because they are affordable for everyone. »

With so many e-bike models available across the board, many of which fall into the key sub-$1,000 category, Americans have been picking up e-bikes in droves.

Pedego even rolled out its cheapest e-bike yet amid the pandemic (see my review video below). This has helped the company reach a new demographic of riders and compete more directly with industry leaders like Rad Power Bikes, which currently dominates the $1,000-$2,000 category.

Many popular e-bikes still cost north of two thousand dollars, with some considerably more expensive.

A new bill introduced in the U.S. House of Representatives and a related bill in the U.S. Senate is currently seeking to help Americans lower those prices with an e-bike tax credit similar to the tax credit. for electric vehicles.

The plan would create a 30% discount for buying a new e-bike in the United States. There are still a few limitations, like capping the rebate at $1,500 and the e-bike qualifying price at $8,000. But if the legislation passes, it could open the door to a second, larger wave of e-bike sales in the United States.

It couldn’t have happened sooner for many commuters, who are now weighing their options for socially distant trips between private cars that are expensive and time-consuming for commutes or crowded public transport.

E-bikes have proven to be a great alternative for many of these commuters by providing a cheaper, faster and healthier alternative form of transportation.

And if the last 18 months are any indication, many more commuters are likely to discover these benefits soon, as the modal shift we’re seeing continues to change urban and suburban transportation before our eyes.

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