Due to several economic factors causing our manufacturing costs to rise by nearly 30% this year, prices of some bike models will be increasing by $200 starting March 1st. Those price changes are as follows:
The Original – Price increasing from $4295 to $4499
The K9 – Price increasing from $4495 to $4699
The Preschool – Price increasing from $4795 to $4999
The Coupe – Price not changing. Remaining at $5999
Non-Electric Bikes - Price not changing.
The following factors are driving the changes:
1. Tariffs – In 2018, the U.S. government began to impose tariffs of 25% on many goods manufactured in China. Until recently, we have been able to avoid these costs because of an exemption that was granted for imported e-bikes. This exemption expired Jan 1st, 2021, and our costs will increase in March beginning with our first shipment of the year.
2. Exchange Rates – In the last year, the U.S. dollar has fallen 9% against both the Taiwan dollar and China’s renminbi, and our suppliers have recently passed these costs along to us.
3. Ocean Freight – Our container freight rates have been more or less consistent for years, but in the past few months those costs have increased by 60%, raising the per unit cost of each bike by 2%.
While we have chosen to absorb most of these cost increases, we are unable to avoid passing some of it along to our customers. This decision will allow us to continue providing the high-level of quality and customer service that we're committed to providing to every customer.
These forces have impacted the entire bike industry, and nearly all major bike brands have raised prices in the last few months. To learn more about how the bike industry has been affected, read this article.
For questions related to this announcement please email us at email@example.com
Note: The Coupe will not see a price change, as they are manufactured in The Netherlands, and are not subject to any tariffs.