Looming reciprocal tariffs have e-bike, bicycle sellers anxious of price hikes going into spring, summer
If you are in the market for a bike or e-bike. Minnesota bike shop owners and manufacturers say the tariffs set to be imposed in the coming days will increase some prices by as much as 50%.
Aventon bikes are among the most popular e-bikes, and their website has posted that prices are going up Friday, urging customers to "take advantage of lower prices while you can."
The owner of Perennial Cycle in Minneapolis, Luke Breen, says it's "full-on panic mode" there, adding, "I am looking at sales literally dying." He said he is juggling uncertainty from his suppliers, from his customers, and even from himself.
"All that we can be sure of is that bikes we have in stock right now, and bikes that our distributors have in stock now, we can get at the prices that have been determined for the season," he said.
That translates to roughly 85 bikes he can guarantee at pre-tariff prices, but "as little as a week from now that will start changing."
For bike shop owners in Minneapolis, the timing is especially painful, coming just as spring weather is filling shoppers' heads with the idea of getting out into nature on a new bicycle. The owner of another bike shop says that, starting now, he would typically do 75% of his business for the year during the next four months.
Breen says the number one question he's been fielding of late is just how much prices will go up. Perennial sells some bikes that many view as replacements for cars. Breen said that one that usually sells for $5,800 could see a price increase of another $2,000. Bicycles in the lower price points could also still go up by hundreds of dollars, he said.
"All we can say is, what we have in stock, we are not raising prices. They are what they are. But if we are talking about something that is still on the water, there is very little time to beat the tariff," Breen said.
Bike shop owners say even American-manufactured bikes are getting hit with potential price hikes, because most brands depend on imported parts.