June 14, 2021, 01.29 PM

JAKARTA, KOMPAS.com – The price of bicycles, especially folding bikes, is declining significantly as compared to last year in response to the Covid-19 pandemic.

Chairman of the Indonesian Bicycle Entrepreneurs Association (Apsindo) Eko Wibowo Utomo said that a part of this decline was due to oversupply in both domestic and foreign markets.

“There was a market correction as the price went up previously because last year’s stock was lacking and traders had raised prices to adjust the situation,” Eko told Kompas.com on Sunday, June 13.

Also readJakarta Police View Bicycle-Related Robbery as A New Crime Phenomenon

Besides, he added, following the decline in the public interest and purchasing power, bicycle manufacturers have decided to make adjustments to bicycle components, causing a decrease in prices as well.

“Previously, for example, the price of folding bikes was over four million rupiahs [$280] and it has now dropped to 2.5 million [$175],” said Eko.

The price of bicycles in the domestic market on average fell by about 20 percent to 30 percent compared to last year. "Currently, the stock of bicycles at dealers, manufacturers, and importers is high," he said.

Regarding the bicycle components, he said that currently the supply is still limited due to the high demand of orders by producers. “The components are available but in small numbers, because the demand remains high from manufacturers and production arrangements at the factory," he said.

(Writer: Rully R. Ramli | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2021/06/14/064000826/harga-sepeda-melorot-pengusaha-stok-sedang-banyak.



Dapatkan update berita pilihan dan breaking news setiap hari dari Kompas.com. Mari bergabung di Grup Telegram "Kompas.com News Update", caranya klik link https://t.me/kompascomupdate, kemudian join. Anda harus install aplikasi Telegram terlebih dulu di ponsel.

Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

August 8, 2022, 09.07 AM

ASEAN Wraps Up Foreign Ministers Talks

August 5, 2022, 10.13 PM

China Begins to Ship Bullet Trains to Indonesia

August 3, 2022, 02.03 PM

ASEAN Warns Myanmar Against More Executions

Close Ads