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It is said that a picture paints a thousand words. So, every weekday, the Robeco thematic investing team considers one of the many trends shaping markets and the world around us.
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After Monday’s rest day, the Tour de France gets back underway today for what is expected to be fast stage for the sprinters on a flat route from Orleans to Saint-Amand-Montrond. However, for the bicycle industry in Europe, the road remains bumpy. After sales of bicycles in Europe jumped 11% year on year in 2020 to nearly 22 million units, followed by a similar increase in 2021, sales dropped 9% in 2022 and fell a further 17% in 2023. Although electric bikes have increased their share of the market in Europe from 17% in 2019 to 30% in 2023, sales still fell 7% last year.
Source: Confederation of the European Bicycle Industry, June 2024.
