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August 2021, Bike Prices Drop By 40 Percent

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Bisnis.com, JAKARTA – Bicycle industry players say the PPKM policy has added pressure to the trend of buying bicycles which has been sloping since last year’s boom.

Chairman of the Indonesian Bicycle Industry Entrepreneurs Forum (Fopsindo) Eko Wibowo Utomo said that as a result, many producers and sellers have now lowered prices. According to Eko, last year the average folding bike was above Rp. 2 million, now it has dropped to below Rp. 2 million.

“Now it’s very quiet since PPKM in the market is also very quiet, so many manufacturers downgrade specs [spesifikasi] to match purchasing power. The price of bicycles has decreased, some have gone up to 40 percent,” he told Bisnis, Monday (23/8/2021).

Eko said with these conditions, entrepreneurs only hope that Covid-19 will be controlled soon and people can get back to their activities. Entrepreneurs set national sales at a very pessimistic level or will fall by 50 percent from last year’s gains.

According to Eko, last year the absorption of bicycle products reached more than 7 million units. That is, if this year’s bicycle sales can be at the level of 3.5 million, the performance is still fairly good for producers and importers.

“One thing that will encourage demand for bicycles is if activities begin to be relaxed and public facilities are opened. So I really hope that PPKM can be relaxed so that people can come back out,” said Eko.

In addition, Eko said that the main factor in the absorption of bicycles is of course purchasing power, which is currently getting hit. However, of course, these factors can only be overcome if the economy recovers.

On the other hand, Eko explained that the current condition of importing bicycles has also resulted in many cancellations of orders. This is because the expectations at the beginning of the year do not match the current reality.

“While abroad there are still many who have high demand for this bicycle, so orders from Indonesia are diverted to other countries instead of being stock here,” said Eko.

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