Electric bike sales have been booming for a while, with a big boost from the pandemic; now we have a new e-bike spike because of high gas prices, as people switch to the more affordable electric vehicle.
Sales are rising faster than expected, above already high expectations set by a pandemic boom. While the cause is hard to pin down — eased pandemic restrictions and the return to the office may play a part — most point to fuel prices as a contributing factor.
People are increasingly looking at more wallet-friendly ways to get around town, be it through carpooling, public transportation, electric vehicles or, you guessed it, (e)bikes.
The pandemic bike boom boosted e-bike sales all over the world, and fuel prices will only keep the boom going.
The cost of owning, driving and maintaining a car costs around $10,000 a year. An electric bike isn’t inexpensive and there’s quite an upfront cost, but the long-term maintenance cost is limited, the cost of electricity is negligible and so an e-bike can save a family a lot of money over the course of quite a few years.
Source: Bloomberg Green